WASHINGTON, Sept 18, CMC – The Inter-American Development Bank (IDB) has approved a US$23.75 million financing package to expand access to electricity for rural populations in Belize, helping improve quality of life and economic opportunities.
The package consists of a US$20 million Global Multiple Works (GOM) loan from the Bank’s Ordinary Capital, a US$2.75 million non-reimbursable investment grant from the Bank’s Non-reimbursable Financing Facility, and a US$1 million non-reimbursable grant from the Bank’s Low Carbon Energy Fund.
The programme will increase household access to electricity services in rural communities with a high proportion of Indigenous peoples and migrants, strengthen technical and institutional capacity to plan, operate, and maintain rural electrification investments, and promote awareness of productive uses of electricity in rural areas.
“This is the IDB’s first energy sector operation in Belize. By advancing rural electrification, economic inclusion, and access to essential services, this program represents a major step toward a more sustainable and inclusive Belize”, said Karla González, IDB Country Representative for Belize.
Approximately 3,000 rural households will benefit directly by gaining access to electricity for the first time, while Belize’s population more broadly will benefit from improved planning, implementation, and sustainability of electricity services.
The IDB said the programme will finance the design, construction, and installation of solar photovoltaic mini-grids equipped with battery energy storage systems and smart metering technologies, as well as the expansion of the distribution network to connect households and community facilities and the infrastructure needed to link new users to the electricity grid.
The US$20 million loan has a 25-year repayment term, a 5.5-year grace period, and an interest rate based on SOFR.
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