BELMOPAN, Belize, CMC – The Worldwide Finance Company (IFC), a member of the World Financial institution Group, and the Authorities of Belize on Saturday signed a Memorandum of Understanding (MOU) aimed toward creating a pipeline of investable Public-Non-public Partnerships (PPPs) within the Caribbean Group (CARICOM) member-country.
The IFC acknowledged that the MOU was concluded throughout a high-level mission to Belize led by Carlos Felipe Jaramillo, World Financial institution Vice President for Latin America and the Caribbean, and Alfonso García Mora, IFC Vice President for Latin America and the Caribbean.
The IFC stated the MOU “establishes a framework to foster collaboration on PPPs, with IFC working alongside the federal government to overview the financial and monetary feasibility of proposed initiatives throughout key sectors comparable to power, infrastructure, logistics, digitization, and the blue financial system, to draw non-public sector traders.”
Moreover, the IFC acknowledged that the World Financial institution will assist the event of PPP rules and strengthen authorities capability to implement PPPs.
“PPPs are a robust software to drive nationwide growth. By strategically involving the non-public sector, we will enhance infrastructure and repair supply whereas maximizing the mobilization of capital,” stated Belize Prime Minister John Briceño. “Leveraging the World Financial institution Group’s expertise and experience, we reaffirm our dedication to ship high-impact initiatives that profit the Belizean folks.”
García Mora stated PPPs “enable governments to leverage the experience and effectivity of the non-public sector, increase much-needed capital, and spur financial growth.
“IFC brings world expertise in structuring profitable PPPs which can be financially sound, sustainable, and aligned with nationwide priorities,” he added. “We’re happy to assist Belize in delivering higher infrastructure and companies by well-structured partnerships.”
Jaramillo stated, “A robust authorized basis and capability constructing are key to profitable PPPs.
“By way of this collaboration between the World Financial institution and IFC, we’re bringing collectively coverage experience and transaction expertise to assist Belize unlock non-public funding for important infrastructure,” he added.
By way of this partnership, IFC is predicted to supply technical and advisory assist to the Authorities of Belize on venture design, monetary structuring, danger allocation, and clear procurement processes, making certain that PPPs are bankable for the non-public sector, sustainable and ship worth for cash.
The IFC acknowledged that the MOU builds on its flagship PPP venture in Belize, the Belize Photo voltaic Challenge, which goals to cut back electrical energy prices, enhance using renewable power sources, and guarantee a secure energy provide for properties and companies.
Since 2004, the IFC has suggested on and closed 183 PPP initiatives in 60 nations, contributing practically US$67 billion in non-public funding in creating nations.
The IFC stated that PPP initiatives it has helped construction and implement have benefited 174 million folks in rising markets by improved entry to electrical energy, water, sanitation, transportation, and healthcare.
