World Bank Approves New Strategy for Belize to Support Growth, Jobs, the Energy Transition, and Skills Development

Washington, D.C. May 19, 2026: The World Bank Group's Board of Executive Directors have approved a new Country Partnership Framework for Belize. The strategy focuses on expanding economic opportunity and creating more and better jobs for Belizeans by spurring private sector-led growth, improving energy reliability, and building a better skilled workforce while strengthening the country's resilience to natural hazards.

With a GDP of US$3 billion and a population of roughly 420,000, tourism in Belize contributes 45 percent of GDP, but the country is among the most exposed in the region to climate impacts. The government's ambitious reform agenda has resulted in public debt being cut from 103 to 62 percent of GDP, unemployment standing at a historic low of 2.1 percent, and growth rebounding. The new strategy builds on this momentum, supporting the government's #PlanBelize development strategy through targeted World Bank Group interventions.

Degradation of Belize's barrier reef threatens livelihoods in tourism and agriculture and increases climate risks. The Framework will therefore support the government in addressing these constraints through investments in water, sanitation, and waste management in coastal hubs, as well as climate-resilient farming practices, while helping to build foundations for Belize to develop as a logistics hub, connecting the Caribbean and Central America.

"We are committed to building on the fiscal stability and economic progress Belize has achieved over the past five years, and steering our economy toward stronger, more inclusive growth," said Prime Minister of Belize, John Briceño. "This partnership with the World Bank Group will support us in that effort."

Despite a near 50 percent increase in energy demand at peak, half of Belize's electricity is imported on volatile spot-market terms and little new generation capacity has been added in over a decade. In Belize's workforce, shortages of skilled labor are evident and the gender gap is particularly acute - in mid-2025, only 46.9 percent of working-age women were in the workforce compared to 72.3 percent of men, partly due to childcare responsibilities. To support the energy transition, the strategy will strengthen energy policy and the regulatoryframework, improve management of the distribution network, and help structure public-private partnerships to crowd in private investment. On skills, the framework proposes investing in early childhood education and care in underserved regions, freeing up women to work and study.

"The World Bank Group is steadfast in supporting Belize's next phase of growth - helping to create the conditions for private investment, accelerating the energy transition, and expanding skills and opportunities for Belizeans to participate in that growth," said Lilia Burunciuc, World Bank Director for the Caribbean.

The Country Partnership Framework will deploy a "One World Bank Group" approach, combining the resources of the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA) to help Belize achieve its development goals. Belize benefits from highly concessional financing through the IDA's Small States Exception.

Learn more about the work of the World Bank in Latin America and the Caribbean: https://www.worldbank.org/en/country/caribbean

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