New green finance mandate to improve the energy efficiency of businesses in Belize

New green finance mandate to improve the energy efficiency of businesses in Belize

August 3, 2020

In partnership with Canadian firm Econoler, a world leader in energy efficiency consulting services, DID will participate in a project to support the Development Finance Corporation (DFC), the only development bank in Belize, in implementing new green finance products aimed at helping the country’s micro, small and medium enterprises (MSMEs) improve their energy efficiency.

The project is funded by the Inter-American Development Bank’s EcoMicro Program and aims to disburse CAN$1 million in green loans to about 100 businesses, for an average loan of CAN$10,000.

DID will be responsible for conducting a gender-based analysis and an organizational evaluation of gender equality at the DFC. This analysis will determine whether specific measures will be needed to address potential gender inequalities during the project’s execution and, consequently, ensure equitable benefits for women and men.

In Belize, where fossil fuels continue to play a major role in the energy mix, MSME growth and productivity are negatively impacted by high energy costs. By means of energy performance contracts, the project focuses on encouraging MSMEs to adopt technologies that promote renewable energy and energy efficiency to generate energy savings and reduce their operational costs.

This green finance project will also help MSMEs in Belize to adopt more environmentally sustainable energy sources and strengthen their long-term resilience to climate change.

Learn more about our expertise on environment and climate change.