Photo: Dr. Osmond Martinez, Chief Executive Officer (CEO) in the Ministry of Finance, Economic Development, and Investment
by Kristen Ku
BELIZE CITY, Fri. Jan. 5, 2024
The Ministry of Economic Development (MED) has received total funding of BZ$3,157,028 from the Green Climate Fund (GCF) and the Caribbean Development Bank (CDB). Of that amount, BZ$627,236 is a readiness grant from the GCF that is to be used to strengthen the Economic Development Ministry’s capacity, in line with its accreditation as a Direct Access Entity.
In addition to the GCF grant, the MED has secured a technical assistance grant of BZ$2,529,792 from the CDB for the National Meteorological Service of Belize that will be used to develop tools for impact-based forecasting and early warning systems for natural hazards in the Belize River Watershed.
In a recent interview with Dr. Osmond Martinez, Chief Executive Officer (CEO) in the Ministry of Finance, Economic Development, and Investment, he explained that the MED has been the National Designated Authority since 2015 but has never before managed readiness funds from the GCF.
This milestone is the culmination of 16 months of intensive work, during which policies and manuals were put in place for the accreditation process. “This is a historical moment, but to achieve that there is a lot of work that needed to be done,” he said.
The readiness grant will aid in developing a comprehensive project management manual and implementing procurement and auditing policies.
Dr. Martinez elaborated on the three main components of the grant funding:
- Capacity Building for the Met Office: This includes training for Met personnel in data analysis, instrument maintenance, and opportunities for advanced studies.
- Purchasing of Equipment: Critical technological upgrades for the Met and NEMO offices, including new computers.
- Development of a Multi-Hazard Early Warning System: This system will transition to impact-based forecasting, crucial for public assessment and awareness, particularly in hazard-prone areas.
Dr. Martinez also emphasized the importance of the Met Office, which is often underestimated despite its crucial role during natural disasters.
“A lot of times we underestimate and we have been underestimating the work that the Met Office does, but any time a hurricane comes, they are the ones who we put even our lives on, because they are the ones who will guide us,” he noted.