Belize Commits $110 Million to Millennium Compact
The United States may be providing the bulk of the money, but Belize is also making a major investment in the country’s future. The government is committing fifty-five million U.S. dollars to the five-year Millennium Challenge Compact, on top of the one hundred and twenty-five million U.S. dollars coming from Washington. The additional funding will close a shortfall created after major energy projects were added to the program. Prime Minister John Briceño explains why Belize put more money on the table, while the Millennium Challenge Corporation says the country is contributing far more than required.
Prime Minister John Briceño
Prime Minister John Briceño
“I think it was important from our end to, to show a total commitment to the goals that have been set out. And how best can you do that by saying that we’re gonna put also our money. When there was a realignment within the compact from education to energy, there was a shortfall, and we as a government decided that we’re going to cover that shortfall because we still wanted to meet the goals that were set initially. And with energy with replacing the submarine cable, it’s not only the submarine cable, we also have to run new transmission lines from the substation by Bomba onto to the – and that’s also very expensive. And I also need to make the point that the compact that we signed, we also have to set monies aside to ensure that those projects can finish. That even if there should be for any reason, and I hope it doesn’t happen, any budget overruns, we will have to be able to put in that money.”
Jason Small
Jason Small, Acting Vice President of Compact Operations, MCC
“MCC expects its country partners around the world to demonstrate tangible commitments to the program. We do have requirements around minimal country contributions and I can say in the case of Belize here it’s more than five times what we’ve, what we would require in a partnership, which is a clear and tangible demonstration of the commitment of this government to this partnership and to the success of the projects themselves.”
Belize’s Millenium Challenge Account project is being spearheaded by Executive Director Dr. Marcia Bouloy.
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