WASHINGTON, May 20, CMC – The World Bank Group (WBG) has approved a new Country Partnership Framework for Belize focusing on expanding economic opportunity and creating more and better jobs for Belizeans.
The WBG said that this would be achieved by spurring private sector-led growth, improving energy reliability, and building a better skilled workforce while strengthening the country’s resilience to natural hazards.
It said that with a gross domestic product (GDP) of three billion US dollars and a population of 420,000, tourism in Belize contributes 45 per cent of GDP, but the country is among the most exposed in the region to climate impacts.
“The government’s ambitious reform agenda has resulted in public debt being cut from 103 to 62 per cent of GDP, unemployment standing at a historic low of 2.1 per cent, and growth rebounding,” the WBG said.
The Washington-based financial institution said that the new strategy builds on this momentum, supporting the government’s #PlanBelize development strategy through targeted World Bank Group interventions.
The Framework will therefore support the government in addressing these constraints through investments in water, sanitation, and waste management in coastal hubs, as well as climate-resilient farming practices, while helping to build foundations for Belize to develop as a logistics hub, connecting the Caribbean and Central America.
“We are committed to building on the fiscal stability and economic progress Belize has achieved over the past five years, and steering our economy toward stronger, more inclusive growth,” said Prime Minister of Belize, John Briceño, adding “this partnership with the World Bank Group will support us in that effort”.
Despite a near 50 per cent increase in energy demand at peak, half of Belize’s electricity is imported on volatile spot-market terms and little new generation capacity has been added in over a decade.
In Belize’s workforce, shortages of skilled labor are evident and the gender gap is particularly acute – in mid-2025, only 46.9 per cent of working-age women were in the workforce compared to 72.3 per cent of men, partly due to childcare responsibilities.
To support the energy transition, the strategy will strengthen energy policy and the regulatory framework, improve management of the distribution network, and help structure public-private partnerships to crowd in private investment. On skills, the framework proposes investing in early childhood education and care in underserved regions, freeing up women to work and study.
“The World Bank Group is steadfast in supporting Belize’s next phase of growth – helping to create the conditions for private investment, accelerating the energy transition, and expanding skills and opportunities for Belizeans to participate in that growth,” said Lilia Burunciuc, World Bank Director for the Caribbean.
The Country Partnership Framework will deploy a “One World Bank Group” approach, combining the resources of the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA) to help Belize achieve its development goals.
The WBG said that Belize benefits from highly concessional financing through the IDA’s Small States Exception.
CMC/ag/ir/2026