The Inter-American Development Bank [IDB] has approved a US$7 million loan to help Belize sustainably expand its blue economy.
The IDB loan has a 25-year repayment period and a grace period of five-and-a- -half years
The programme's objectives are to increase the earning potential of artisanal fishers and keep exports high while promoting sustainable use of commercial marine resources.
The IDB says the loan is designed to strengthen the Government's capacity to sustainably manage Belize's important commercial fish species, like conch, lobster, and finfish.
It will also help prompt the country's fishers to adopt sustainable and climate-resilient technologies.