IDB 15 MM LOAN SUPPORTS SUSTAINABLE TOURISM IN BELIZE

UNCLAS BELMOPAN 000185


DEPT FOR WHA/CEN (CHRISTOPHER ASHE),EEB

E.O. 12958: N/A
TAGS: ETRD EFIN BH
SUBJECT: IDB 15 MM LOAN SUPPORTS SUSTAINABLE TOURISM IN BELIZE


1. The Inter-American Development Bank signed a loan agreement with
the GOB on April 27 to provide USD 13.3 million (BZD 26.6 million)
to expand the tourism industry in an environmentally and socially
responsible manner. The Ministry of Tourism and the Belize Tourism
Board as acting agencies will develop a master plan for tourism and
provide key infrastructure developments to improve facilities for
visitors in Belize. The funding will also be used to build on a
marketing strategy to attract more visitors.


2. The focus of the program will be restoration and facilities
improvement in the premier tourism destinations in Belize including
San Ignacio, Ambergris Caye, Placencia, and Belize City. Projects
include construction and improvement of information centers, beach
restoration and erosion reduction, landscaping, and restoration of
the urban center. In addition, the loan will finance the
preparation of a National Tourism Master Plan - the development of
an updated country branding strategy and a matching grant facility
for micro and small businesses to help offset costs of complying
with standards including sustainable tourism.


3. Belize's tourism sector accounts for roughly 22 percent of the
country's Gross Domestic Product and employs an estimated 25 percent
of the work force. The loan has a 25-year maturity and a 50-month
grace period.

FEATHERSTONE