Belize Seeks US$10M in Funding To Battle Sargassum Crisis
Belize is seeking an initial US$10 million in World Bank financing to help address the growing sargassum problem affecting the country and the wider Caribbean region.
Prime Minister John Briceño said the government is working to obtain US$5 million, as part of a broader effort to secure approximately $20 million to tackle the problem.
“We’re working on getting the first five million US dollars, and we’re hoping to get an additional five million,” Briceño said, “We’re looking at probably about 20 million dollars to be able to start to address seriously the sargassum.“
Briceño said sargassum was one of three key issues Belize raised with World Bank officials, alongside extending an agricultural project that helps small farmers adapt to climate change and advancing a proposed energy storage project.
He said sargassum is affecting Belize and other countries across the region, with climate change contributing to the challenges the country faces.
Briceño said the government is seeking financing with low interest rates and longer repayment periods to help fund efforts to tackle the sargassum problem.