BELMOPAN, Belize (CMC) — The capability of the Development Finance Corporation (DFC) has been given a boost with a loan of US$10.5 million from the Caribbean Development Bank (CDB).

Among the DFC’s lending objectives are the improvement of home ownership, human development and the development of Micro, Small, and Medium-sized Enterprises (MSMEs).

MSMEs are fundamental to the economic landscape of Belize and are estimated to account for a significant share of economic activity and employment generation. However, they are usually faced with a number of challenges, including limited access to financing and the cost of it.

The CDB loan will allow the DFC to provide finance for these MSMEs as well as student loans, credit for low-income housing and also for energy efficiency/renewable energy projects.

The DFC was originally established in 1963 to expand and strengthen the economy of Belize by providing funding on affordable terms to individuals or groups seeking to develop key economic sectors.