Belize Compact

Belize is a small, diverse, coastal nation at the crossroads of the Caribbean and Central America.

For most of Belize’s history, its economy relied on the export of forest products, sugar, and fruit. In the 1990s, tourism began to expand. For the next decade, Belize experienced robust real per capita income (PCI) growth, and by 2019 tourism made up more than 40 percent of Belize’s GDP. However, from 2004 to 2019 real PCI growth was near zero. As of 2018, 52 percent of the population’s income was below the Belizean General Poverty Line, and in 2020, Belize experienced a sharp fall in tourism revenue and real PCI fell by 16 percent. And while agriculture is the second largest contributor to Belize’s GDP, both agricultural productivity and employment in agriculture are on a downward trend.

The $125 million Belize Compact aims to address the binding constraints of low-quality education and high electricity costs by increasing the number of post-primary graduates with the skills relevant to labor market demands and lowering the wholesale cost of electricity in real terms. The compact is designed to achieve its objectives through two projects: the Education Project and the Energy Project. The Government of Belize will also invest an additional $40.6 million towards the compact budget.

Financials

Created with Highcharts 11.2.0Grant Expended:$0 (0.00%)Grant Committed:$0 (0.00%)Grant Total:$125,000,000 (100.00%)

Financials as of September 4, 2024

Program Budget

Created with Highcharts 11.2.0Monitoring & EvaluationProgram AdministrationEducation ProjectEnergy Project

Milestones

  • Signed:
    September 4, 2024

Program Projects

As of Thu Sep 05 2024 14:16:00 GMT+0000 (Coordinated Universal Time)