Project Name：Credit Program for Safeguarding the Productive Sectors and Women MSMEs (Belize)

Project status：Completed projects

Cooperating Country：Belize

Project Description：

The project supported the sustainability of micro, small and medium enterprises (MSMEs) as employment providers in Belize amid the COVID-19 crisis and to promote the post-COVID economic recovery of MSMEs through access to production-oriented finance, with a specific focus on improving the access of women's businesses to finance. There were three components in the project: (i) to support the short-term financial sustainability of MSMEs; (ii) to promote the economic recovery of MSME through access to production-oriented finance; and (iii) to support the digitalization of the Development Finance Corporation (DFC) with the objective of improving the efficiency of its lending operation, and enhancing the provision of financial services to MSMEs, including women’s businesses. The project benefited a total of 483 enterprises, including 169 women-owned enterprises. Lending to women-owned enterprises accounted for nearly 40% of total lending, significantly exceeding the original target of 25%. Additionally, DFC’s share of lending to women-owned enterprises also increased substantially, from 16% to nearly 44%, significantly improving women’s access to finance and promoting greater financial inclusion.

Implementation Start Date：2020-04-17

Implementation End Date：2025-12-31

Project Objectives：

The project assisted the DFC (a state-owned national development bank in Belize) in expanding its lending to MSMEs, and in particular women’s businesses, to facilitate post-COVID economic recovery and promote women’s financial inclusion.

Executing Agency：

Development Finance Corporation (DFC)

Implementation Arrangement：

The TaiwanICDF co-financed with the Inter-American Development Bank (IDB) for DFC on-lending to MSMEs in Belize. DFC implemented the project in accordance with the credit regulations set out by IDB and its internal loan operation manual. IDB also assisted DFC in improving its ability to implement the project, including impact assessment and financial management required by IDB.

Signing Date：2023-04-17