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| The Inter American Development Bank | |
BRIDGETOWN, Barbados, November 21, 2008 - Two Caribbean countries are in line to benefit from funds from the Inter-American Development Bank (IDB) - one for improving government efficiency, the other to improve solid waste management.
The IDB will provide a US$60 million loan to the Jamaica government as it adopts a reform programme to improve efficiency of public expenditure by strengthening fiscal discipline and modernising its public financial and performance management practices.
"The reform programme combines policy initiatives and government actions in four key areas: fiscal responsibility, financial management, public procurement, and performance management and accountability. These initiatives are critical for the coherent operation of the fiscal responsibility framework and for increasing the efficiency of public expenditure," the IDB said.
The US$60 million loan is the first of a series of three independent, single-tranche operations of a fast disbursing policy-based loan, designed as a flexible and effective mechanism to support complex and long-term reforms that require sequenced actions for implementation. The following two operations are also expected to be up to the amount of $60 million each.
Meantime, Belize will be drawing from IDB funds, in the amount of US$11.15 million to improve solid waste management practices, reduce environmental pollution and enhance the image of Belize in the eco-tourism market through better management of its municipal dump sites.
That initiative will focus on the solid waste management needs of the island's western corridor - Belize City, San Ignacio and Santa Elena - and the islands of Ambergris and Caye Caulker, and will also strengthen the overall capacity of the central government to improve solid waste management.
The total population along the western corridor is 119,000, which accounts for 40 per cent of the total population of Belize.
The infrastructure investments of the programme include the closure of some open dump sites and the construction of a main waste transfer facility to help waste separation and recycling, and the construction of a new regional waste disposal facility.
The institutional strengthening component will assure that capacity within Belize's Solid Waste Management Agency (SWMA) is in place to execute the project and carry out its mandate.
"Improved solid waste management is very important to Belize, providing a much needed service to the population and protecting the environment, a critical resource for sustainable economic growth," said IDB Representative in Belize, Caroline Clarke.
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