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Belize taps into $23.2M CARILED funds Print E-mail
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Thursday, 08 November 2012 00:00

Official signingOn Wednesday, November 7th, Minister of Rural Development, Immigration and NEMO, Hon. Godwin Hulse signed on to an agreement which will see Belize tapping into $23.2 million dollars to stimulate economic growth, create jobs and develop the business sector. The program, Caribbean Local Economic Development (CARILED) is financed by the Canadian International Development Agency (CIDA). Seven Caribbean countries will be beneficiaries to the program and Dr. Naresh Singh, Executive Director of CARILED, explained that finances have not been specifically earmarked for any particular recipient.


Singh said that the money will be distributed based on each country's performance. The program is expected to closely monitor the distribution of finances and measure the impact that it is having on business and job creation. In Belize, the program funds will be accessed through the Belize City Council, San Pedro Town Council and the Belize Association of Village Councils. Persons who wish to access financing, training and other assistance will be able to do so through these entities who will in turn look to the newly established Small Business Development Center. Already areas that are being looked at are Eco-Agro Tourism, Handicraft Manufacturing, Agro Processing and other areas like this. Singh added that the program will look to develop businesses through cottage industries at the home or village level as opposed to large scale productions.

Minister Hulse says that the program will see ideas brought in and assistance given to start up business through facilitation where needed.

The program will run for 5 years and disbursement of finances will commence as early as January or February of next year.