A letter of intent was signed by Taiwan, Belize and the Inter-American Development Bank May 26 in Washington, D.C., to help facilitate economic recovery in the Central American ally, according to the Ministry of Foreign Affairs.
The pact was signed by Vice MOFA Minister Alexander Tah-ray Yui on behalf of the Taiwan International Cooperation and Development Fund (TaiwanICDF), Belize Financial Secretary Joseph Waight and IDB President Mauricio Claver-Carone.
Under the LOI, TaiwanICDF will provide US$5 million in funding to create employment opportunities and foster the recovery of micro, small and medium enterprises in Belize, including those deeply affected by the COVID-19 pandemic, the MOFA said.
By offering additional financing options for women-led businesses in particular, the partnership will also help promote gender equity, thereby bolstering inclusive and sustainable growth in Latin America and the Caribbean, the ministry added.
The ministry said the LOI marks the beginning of deeper engagement between Taiwan and the IDB in the western hemisphere. The government looks forward to enhancing cooperation with all democratic countries in the region and contributing to their steady, sustainable and transparent growth, it added.
In a tweet on its official Twitter account, the MOFA said “Vice Minister Yui, @the_IDB President Claver-Carone & Financial Secretary Waight of #Belize’s Ministry of Finance, Economic Development & Investment inked a financing cooperation LOI. The #Taiwan-supported initiative lets women-led MSMEs spur our ally’s post-pandemic reset!” (SFC-E)
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