BELMOPAN, Belize, CMC – The Inter-American Development Bank (IDB) says it is supporting Belize’s efforts to increase labour force participation and improve employability through a financing package of eight million US dollars.
The Washington-based financial institution said the operation will support a program that aims to address the country’s skilled labor shortage by strengthening public employment services and expanding access to relevant, quality training in high-demand sectors such as tourism, business process outsourcing, and the Information and Communication Technology (ICT) sector.
The programme is expected to benefit over 20,000 job seekers, including at least 2,360 individuals who have been trained in priority sectors. It will also support a 200 percent increase in the number of active job seekers registered in the public employment service and a 50 percent increase in registered job vacancies.
Prime Minister John Briceño and the General Manager of the IDB’s Country Department for Central America, Haiti, Mexico, Panama, and the Dominican Republic, Tomás Bermúdez, signed the loan contract for the program.
The initiative will modernize Belize’s public employment services by introducing digital platforms for job matching, labor market information, and case management. It will also implement new service models tailored to the needs of vulnerable groups, including outreach strategies, career guidance, and support for entrepreneurship in areas with limited opportunities for salaried employment.
“Furthermore, an employer engagement strategy will be introduced to build partnerships with employers, align services with labor market needs, increase vacancy registrations, and improve job matching,” the IDB said, adding that the programme will also develop talent pipelines in priority sectors, offering demand-driven training aligned with employer needs.
It said a pilot initiative will also focus on advanced digital skills, preparing participants for remote and nearshore ICT employment.
To support women’s labour force participation, the programme will train childcare workers with a focus on caring for children with disabilities. It will also offer stipends to all participants to reduce financial barriers and promote inclusion of vulnerable groups in high-demand sectors.
The programme will support migrants by improving access to employment services and training tailored to their needs, including assistance with work permits, language support, and culturally relevant outreach.
The IDB’s financing package includes a $500 million USD loan with a 5.5-year grace period and a $1 million non-reimbursable investment from the IDB Grant Facility.
The resources of a joint co-financing will also finance the programme’s activities through a separate loan of seven million US dollars provided to Belize by Taiwan’s International Cooperation and Development Fund (ICDF).
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