Cabinet: DFC To Become Development Bank of Belize, Coye Will Stay on as Senator

The Cabinet has approved the rebranding of the Development Finance Corporation (DFC) to the Development Bank of Belize, signaling a renewed focus on national development and climate finance. The move is intended to strengthen the institution’s identity, reinforce its commitment to excellence, and enhance its role in Belize’s financial and developmental landscape.

Prime Minister and Cabinet also expressed appreciation for Minister of State Christopher Coye, who will continue to serve as a Government Senator despite stepping down from his ministerial post.

The Cabinet meeting, held on September 30, 2025, also covered several national and international updates. Belize was elected to the Council of the International Civil Aviation Organization (ICAO), with Kennedy Carrillo, former CEO of the Ministry of the Blue Economy and Civil Aviation, appointed as the country’s representative. Belize is one of 36 member states to serve on the Council, which oversees Secretariat operations and key diplomatic and technical decisions when the Assembly is not in session.

On domestic matters, the Cabinet was briefed on the recent flooding in Toledo District, which temporarily displaced 108 residents. Officials reported that waters have subsided, allowing affected residents to return home, while NEMO continues to monitor conditions.

Preparations are also complete for the Caye Caulker cannabis referendum, scheduled for October 8, 2025. Registered voters will decide whether to approve legislation creating a regulated and taxable legal cannabis industry on the island, with a portion of revenue benefiting local residents.

Cabinet also approved the introduction of a national DNA Bill, which will establish a DNA database to assist in criminal investigations, missing persons cases, and the identification of human remains.

Finally, the Cabinet endorsed the updated National Integrated Coastal Zone Management Plan (2025–2030), along with nine regional guidelines, fulfilling Belize’s obligations under the Blue Bond Agreement and providing a strategic framework for sustainable coastal management.