Poverty alleviation projects get a boost

Belize has received a grant of three and a half million dollars from the European Development Fund for poverty reduction projects. The Social Investment Fund will administer the effort with three fourths of the money to be used for a micro-enterprise credit project and the remainder for educational purposes. According to the office of the Prime Minister, the micro-enterprise credit scheme will be aimed at over two thousand small businesses, particularly those owned by women or young people in poor communities. Loans will be administered through financial institutions at rates comparable to commercial bank rates. For the educational projects eight schools and training centers in the Toledo, Cayo and Belize districts will benefit from extension or renovation. Equipment and teaching materials will also be supplied.