Belize Secures Grants For Climate Adaptation and Resiliency

BELMOPAN, Belize – Belize's government says it has secured access of up to BZ$122 million (One Belize dollar=US$0.49 cents) to support in-country climate adaptation and resiliency building measures.

A government statement said that the funds have been negotiated at the ongoing United National Climate Change Conference (COP 28)  taking place in Dubai until December 12.

It said that the Minister of State in the Ministry of Finance, Economic Development and Investment,  Christopher Coye, who is leading the country’s delegation to the COP 28, together with Dr. Osmond Martinez, the Chief Executive Officer of the Ministry of Economic Development, held bilateral meetings, which have resulted in access of up to BZ$122 million in identified and or secured projects to support in-country climate adaptation and resiliency building measures.

The statement said that Coye and Martinez met with several different climate finance development partners, including the Adaptation Fund, where the approval of a BZ$10 million grant for building community resilience via transformative adaptation was announced.

“This project is scheduled to commence in the first quarter of 2024 and will be implemented by the Protected Areas Conservation Trust (PACT) as the accredited entity of the Adaptation Fund.”

The statement said an an additional BZ$18 million direct access grant is allocated for Belize through the Adaptation Fund.

“Noting the high vulnerability of Belize’s housing stock to direct damage and loss from hurricanes equivalent to 20 per cent of average annual losses, it is proposed that such funds shall be directed towards climate adaptation in housing.”

Belize will also benefit from a regional grant of eight million dollars from the Adaptation Fund, which has also been approved, the implementing entity being the Central American Bank for Economic Integration (CABEI).

“The implementation of the regional project will commence in the first quarter of 2024. It will focus on using nature-based solutions to increase resilience to extreme climate events in the Atlantic Region of Central America. This project should result in solutions to the coastal erosion issues experienced by Belize, particularly the community of Monkey River. “

Belize is also poised to embark on its first major project through the Green Climate Fund (GCF), marking a significant milestone in accessing substantial grant funding of BZ$78 million for building the adaptation capacity of sugarcane farmers in the northern part of the country. The statement said the project is scheduled to be approved at the GCF Board Meeting in March of 2024. Belize will also access an additional eight million dollars from the GCF for its next readiness cycle.

“Belize, known for its rich biodiversity and vulnerable coastal ecosystems, has long been at the forefront of climate advocacy. Securing this scale of adaptation financing is a huge accomplishment for Belize,” said the statement, adding “Belize will continue to advocate for climate justice for all Belizeans” at COP 28.