BELMOPAN, Belize, CMC – The Belize government, on Wednesday, said it has completed one of the key conservation targets under the Conservation Funding Agreement (CFA) of the Belize Blue Bonds Programme.
The Belize Blue Bonds are a debt instrument that the government issued to raise finance for marine and ocean-based projects that have long-term sustainability objectives and benefits.
In November 2021, The Nature Conservancy (TNC) and the Belize government announced the completion of a US$364 million debt conversion for marine conservation that reduced the country’s debt by 12 per cent of gross domestic product (GDP) created an estimated US$180 million of sustainable financing for conservation, and locked in commitment to protect 30 per cent of Belize’s ocean, in addition to a range of other conservation measures. The transaction is the world’s most significant debt refinancing for ocean conservation to date.
The government said that in November last year, through its Blue Bond and Finance Permanence Unit, it submitted the required documentation to the Belize Blue Investment Company Limited (BIC) to complete Milestone 4.
A statement from the Office of the Prime Minister said Milestone 4 required that, by the third year of the Agreement, 25 per cent of Belize’s ocean territory be designated as Biodiversity Protection Zones (BPZs).
The statement said that to meet this target, the government proposed 1,669.64 km², or five per cent of new Medium Protection Zones (MPZ), bringing the total protected ocean area to 8,360.1 km², or 25.05 per cent.
The statement said that following BIC’s review and assessment, Belize officially achieved Milestone 4, “marking a significant milestone in the country’s journey toward ocean sustainability and long-term marine conservation.
“These newly designated zones were identified through an inclusive, science-based marine spatial planning process led by the Coastal Zone Management Authority and Institute (CZMAI), with support from the Belize Fisheries Department and other agencies.”
The statement said that the MPZs allow for limited, well-managed use, ensuring that marine ecosystems remain healthy while supporting the livelihoods of coastal communities.
It said the protection of key habitats, such as reefs, mangroves, and seagrass beds, enhances fisheries productivity, strengthens coastal resilience, and preserves biodiversity, delivering long-term benefits to both nature and the people of Belize.
“The government…remains committed to working with CZMAI and other partners to finalize Belize’s Sustainable Ocean Plan and deliver the remaining conservation goals under the Blue Bonds Programme, securing a thriving, sustainable blue economy for current and future generations,” the statement added.
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