3 weeks ago
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The Government of Belize has formally signed modifications to the Belize Compact, preserving a landmark one hundred and twenty-five million US dollar grant agreement with the United States Government through the Millennium Challenge Corporation. The revised compact reallocates twenty million US dollars from the Education Project to the Energy Project, opening the way for expanded investment in critical national energy infrastructure. A key component is the planned installation of a new sixty-nine-kilovolt submarine transmission cable to Ambergris Caye, which is expected to reinforce the national grid and help meet the island’s growing demand for electricity. Prime Minister John Briceño says the modified compact reflects the close and productive relationship between Belize and the United States, while advancing investments that can deliver lasting benefits for Belizeans.
John Briceño, Prime Minister of Belize: “It’s been a long process in the sense that there have been a lot of consultations especially when it comes to education with the teachers, with the ministry, with the Ministry of Finance and likewise with energy, trying to adjust the challenges that we’re facing with energy. In a way we’ve been a victim of our own success. Our economy has grown way faster than was expected so we are already consuming what was projected for, I think 2028 and probably 2029. So I think it was a wise decision to hone into those two areas.”
Reporter: Are for the education component of the grant?
John Briceño, Prime Minister of Belize: “Well, I think you could speak with the technical people and they could give you greater details but what we look at is to move some of the finances that were going to use more inclusion and also digital devices because they wanted to shift more money into energy because they felt that again for us to be able to have a thriving economy we have to keep up with energy and not only reliable but trying to find ways on how we could start to bring down the cost of energy and that’s what we’re working along with them, with the World Bank where we’re doing the project for batteries, you know I think it’s about 30 megawatts of batteries, looking at solar, solar will be coming online pretty soon in the next year, two years at most we’re going to be having a number of amount of solar. We know that also the submarine line that connects the mainland to San Pedro has passed its time. It should have been done from before it got into government, it should have been replaced and it wasn’t. And so now through the compact we’re getting some funding to help pay for it. The government still have to put a significant portion of money to be an able to get that done.”
While the adjustment increases support for energy resilience, the Government says education remains a central focus of the compact. The Education Project will continue to support improvements in secondary education, expand technical and vocational training opportunities, and strengthen workforce readiness for Belize’s changing economy.
Government has also increased its own contribution to the programme, raising its commitment to the energy sector to thirty-eight million US dollars, while maintaining support for digital learning devices for students. U.S. Chargé d’Affaires Katharine Beamer says the agreement demonstrates the continued partnership between both countries and the shared focus on investments that support Belize’s long-term development.
Katherine Beamer, U.S. Charge’d Affaires: “The Belize Compact, as the PM noted, is the largest investment that the United States government has ever made in Belize. And the Government of Belize has made its own very large investment in the compact by increasing the Belize contribution to nearly 55 million dollars. This is a testament to the strong state of our bilateral relationship and the importance we place on mutual prosperity for the American and Belizean people. As we move closer to the implementation phase of the compact, let us reflect on how we got here. Belize was selected for this grant because of its commitment to democracy, economic freedom, good governance, and investing in its people. Those values are the bedrock of our bilateral relationship, and our leadership in Washington recognizes this same pragmatism in the Briceño administration. Everything about this agreement, from the determination of which sectors the compact will investment, the details of how and why those investments will be made, all came through thoughtful coordination and hard work between our two countries. By working together to transform Belize’s education system we can give new opportunities to the next generation of Belizeans entering the labor market and help businesses find more workers with the 21st century skills they need to grow. Meanwhile, investments to fund key energy infrastructure that the country desperately needs and reforms to strengthen and modernize Belize’s energy policy and regulatory framework will lower the overall cost of electricity to the Belizean people and help strengthen Belize’s power sector in the years to come.”
The Millennium Challenge Account-Belize will oversee implementation of the compact, which is expected to enter into force later this year. The signing took place today in Belmopan, where Chief Executive Officer in the Ministry of Economic Transformation, Carlos Pol, signed on behalf of the Government of Belize. Prime Minister John Briceño, Minister of State Dr. Osmond Martinez, Financial Secretary Joseph Waight, U.S. Chargé d’Affaires Katharine Beamer and other senior officials were also present./
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