Taipei, May 27 (CNA) Taiwan’s Ministry of Foreign Affairs (MOFA) said on Friday it had signed a Letter of Intent (LOI) with the Inter-American Development Bank (IDB), with the bank saying the country had pledged $5 million for its program to foster economic recovery and job growth in Belize.
The agreement was signed Thursday by Deputy Foreign Minister Alexander Yui (俞大㵢), IDB President Mauricio Claver-Carone and Belize Financial Secretary Joseph Waight, MOFA said in a statement.
However, MOFA had yet to confirm the announced commitment at press time, following a request for comment from the CNA.
According to MOFA, the letter of intent will pave the way for efforts to create job opportunities, stimulate the economy and promote stable social development as Belize recovers from the economic impact of COVID-19. 19.
Meanwhile, the IDB issued a press release on Thursday saying that Taiwan will “provide a financial contribution of $5 million to complete the IDB program” under the letter of intent signed between the three parties.
The program aims to “create employment opportunities and foster economic recovery for micro, small and medium enterprises (MSMEs), empowering and promoting gender and diversity in Belize,” the IDB said.
The IDB added that the program, which focuses on women-led businesses, would finance productive investments, including purchases of equipment and machinery, as well as the expansion and improvement of productive infrastructure.
IDB President Claver-Carone was quoted in the IDB statement, praising Taiwan as “a model of how to empower and leverage the private sector as an engine of growth to drive sustainable development and transparent”.
“We look forward to working together [with Taiwan] to uplift Belize’s MSMEs,” added Claver-Carone.
Meanwhile, Waight, Belize’s financial secretary, thanked the Taiwanese government and the IDB for the MSME support program, which he said would be “key” to the Caribbean nation’s economic recovery.