ECNETNews, September 5, 2024: The United States and Belize have entered into a significant $125 million Millennium Challenge Corporation (MCC) Compact designed to foster sustainable economic growth and enhance democratic institutions within Belize.
This pivotal agreement highlights the U.S.’s renewed commitment to enhancing prosperity and development in the Western Hemisphere. The U.S. Secretary of State noted that this initiative underscores a collaborative vision for a brighter future in Belize.
The Government of Belize is contributing an impressive $40.6 million towards this initiative, demonstrating a firm investment in the nation’s development. The funding will primarily target two vital sectors: education and energy modernization.
A substantial 80% of the funds will focus on enhancing Belize’s secondary education system, aiming to improve educational outcomes and equip students with essential skills for future success. The remaining 20% will be directed toward modernizing Belize’s energy sector, with a strong emphasis on expanding renewable energy sources to lower electricity costs for consumers.
The United States and Belize collaborated closely to design these projects, ensuring they provide maximum economic and social advantages to the Belizean people while adhering to the highest standards of quality and transparency.
“This partnership demonstrates our commitment to the long-term development of Belize and the region at large. We are eager to witness the transformative impact this collaboration will have on the lives of all Belizeans,” stated the U.S. Secretary of State.
