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CDB providing US$10 million loan to Belize's Development Finance Corporation
Published on July 22, 2014 Email To Friend    Print Version

BRIDGETOWN, Barbados -- The capability of the Development Finance Corporation (DFC) in Belize to provide financing for priority sectors in that country has been given a boost by a loan of US$10.5 million from the Caribbean Development Bank (CDB).

Among the DFC’s lending objectives are the improvement of home ownership, human development and the development of micro, small, and medium-sized enterprises (MSMEs).

MSMEs are fundamental to the economic landscape of Belize and are estimated to account for a significant share of economic activity and employment generation. However, they are usually faced with a number of challenges including limited access to, and the cost of financing.

The CDB loan will allow the DFC to provide finance for these MSMEs as well as student loans, credit for low-income housing and also for energy efficiency/renewable energy projects.

The DFC was originally established in 1963 to expand and strengthen the economy of Belize by providing funding on affordable terms to individuals or groups seeking to develop key economic sectors, who would otherwise be unable to access resources from other sources on reasonable terms. DFC is wholly owned by the government of Belize.
 
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