BELIZE CITY, Mon. Oct. 25, 2021 –The bill to consummate the Blue Bond For Conservation deal between Belize and The Nature Conservancy is scheduled to be introduced in the House of Representatives this Tuesday as the Blue Bond Loan Bill.

As previously reported, by means of this agreement, the country, through a commitment to increased conservation of its marine environment, will be securing funds from the Nature Conservancy (TNC) that will be used to fund a buyback of Belize’s Superbond debt at a substantial discount.

Last Tuesday the organization released a statement outlining some of the undertakings the country has committed to engage in to meet the conditions of the agreement struck with the Washington-based conservation organization.

Legislation is expected to be drafted to ratify the loan facility, as well as the various plans and initiatives that have been outlined to increase the protection of the country’s marine ecosystem and to strengthen its conservation efforts, as agreed to in the Blue Bond deal.
In a release issued by TNC last Tuesday, the organization indicated that Belize has agreed to complete a Marine Spatial Plan and to increase the Biodiversity Protection Zones to 30% of the country’s ocean area by 2026. Approximately 15.9% of those zones are protected at this time.

Half of that 30% of ocean area will be under medium protection and utilized as multi-use zones, and the other half will be designated as High Protection Replenishment Zones.
The country has also agreed to designate lands within the Belize Barrier Reef System, a World Heritage Site, as Mangrove Reserves.

Additionally, Belize’s Integrated Coastal Zone Management Plan will be revised to include marine and coastal biodiversity, and Belize will apply for three marine-protected areas to be formally added on the International Union for Conservation of Nature (IUCN) Green List Areas.

This Blue Bond For Conservation deal also includes an independent fund which is to be used to disburse resources from Belize Blue Bond financing for marine conservation initiatives in Belize.

The Nature Conservancy has been working in the country for the last 25 years on various environmental and conservation initiatives geared at preserving both the marine eco-system and the rainforests in Belize.