BELIZE CITY, Wed. Feb. 9, 2022– President of the Caribbean Development Bank (CDB), Dr. Hyginus “Gene” Leon, started his official visit to Belize on Monday, February 7, with a meeting at the Central Bank of Belize. The CDB team was welcomed by Hon. Christopher Coye, Minister of State in the Ministry of Finance, Economic Development, and Investment, who expressed appreciation for the partnership that has existed between Belize and the CDB since its inception.
“The Government is working to better position Belize to emerge economically, reflecting a culture of environmental sensitivity and building on that brand,” stated Minister Coye.
Dr. Leon, during the meeting, provided assurances of the CDB’s commitment to assist borrowing-member countries in improving the lives of people and securing a sustainable future for the region’s children. Some issues on the agenda included strengthening trade, innovative financing, advancing agriculture, and building economic and climate resilience. He stated that Belize’s government and the bank have an aligned vision, and noted that “as we transition from the pandemic, we must seize the opportunity and create a future the rest of the region and our citizens deserve.” This, he added, is urgent, and requires immediate, bold, and impactful steps.
These steps, he said, comprise a three-prong solution that involves (1) lifting nations out of the dire state many are in as a result of the economic fallout caused by the pandemic; (2) recovery post-rescue by rebuilding the region’s economies’ resilience to global pandemics and climate change, and finally (3) repositioning those countries’ economies so that they can move on to the next phase to foster further economic development. He then pointed out that he hopes to steer Belize towards a path of meaningful recovery.
The discussion with Dr. Leon included updates on the state of Belize’s economy and developments in the financial sector, as well as potential areas for CDB support, the need for collaboration between the public and private sectors to promote economic expansion, regional integration, and areas for strengthening the relationship between Belize and the CDB.
The CDB delegation is expected to announce four new trade initiatives in Belize on Thursday.
The CDB president was accompanied on this visit by Isaac Solomon, the vice president (Operations) of the bank; Shelton Nicholls, senior advisor; Daniel Best, the bank’s director of projects; Andrea Power, Coordinator – Regional Integration; and Cassie-Ann James, communications officer.
The Central Bank was represented by Sidney Campbell, chairman of the board of the Central Bank, and Mr. Emory Ford, the manager of the Central Bank’s Research Department. Minister Coye was joined by Joseph Waight, Financial Secretary; Osmond Martinez, CEO in the Ministry of Economic Development; and Karlene McSweaney, Economist in the Policy and Planning Unit at the Ministry of Economic Development.
The high-level visit of the CDB president is scheduled to last for one week.