IBRD loan to mitigate climate change effects in Belize

Friday, August 29, 2014

The International Bank for Reconstruction and Development (IBRD) loaned US$30mn to Belize's government for a five-year infrastructure improvement project to mitigate climate change effects.

The loan has a maturity of 40 years, with a five-year grace period, the World Bank said in a release.

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The financing will be used to restore 30km of roads, upgrade 12 bridges and culverts, develop 26 localized hazard maps, implement the country's land-use policy and train government staff on flood tracking and local residents on road maintenance.

Belize was identified by the UN Framework Convention on Climate Change as one of the countries most vulnerable to climate change, given that over half the population and business centers are at sea level.