Caribbean Development bank’s Basic Needs Trust Fund

Santiago “Santi” Castillo

A national project spearheaded by the Caribbean Development Bank’s Basic Needs Trust Fund was launched today in Belize City.  Present for the occasion is Darran Newman-Belgrave, Portfolio Manager for (Basic Needs Trust Fund) BNTF’s Social Sector Division.  Speaking at the gathering was Minister of State in the Ministry of Finance and Economic Development Santiago Castillo.

Santiago “Santi” Castillo, Minister of State, Ministry of Finance

“Indeed while the government has an continues to create the environment for prosperity and sustainable economic growth, it has never lost sight of the fact that all its development programs must be people centered to ensure that its citizens obtain he maximum benefits. In its second term of office, government continues to place the well-being of development programs. The official launching of the seventh cycle of the BNTF is only a testament to that commitment, but it is also a stout indicator of the solid confidence that our partners envelopment has on the government and people of Belize. Today’s launching also illustrates the strong warm and friendly cooperation ties between Belize and the Caribbean Development Bank. The Caribbean has made us partners, but the fight against poverty has made us inseparable allies. Belize therefore is extremely grateful to the CDB not only for being with us in good and in bad times, but in particular for providing the necessary funding for programs that address the need for the poor in Belize.  In February fourth 2011, we formally launched a thirty million dollar loan from the CDB known as the SIF Two loan to finance a hundred and ten new small scale community projects in Belize which are currently underway and being implemented by the Social Investment Fund, SIF. Today Belize and the CDB join hands once more to official launch the seventh cycle of the basic needs trust fund—a program that has contributed strongly to the national development of Belize through the provision of social infrastructure, resources centers, schools, health clinics, access to water, sanitation and roads. The seventh cycle program was approved at approximately twelve point eight million for projects in Belize in October 2012—this represents an increase of approximately seventy-five percent in CDB funding from the BNTF sixth program. Of the twelve point eight million under BNTF seven, eleven point one million is in the form of grant funds and the one point seven million represents government of Belize counterpart financing.”

That video of the Caribbean Development Bank’s Basic Needs Trust Fund launch was provided through courtesy of the Government Press Office.