The World Bank Group has approved a new Country Partnership Framework for Belize, aimed at expanding economic opportunity and creating more and better jobs through private sector-led growth, improved energy reliability, and a stronger workforce. The strategy also emphasizes resilience to natural hazards, reflecting Belize’s vulnerability as one of the most climate-exposed countries in the region.
Belize’s economy, with a GDP of US$3 billion and a population of about 420,000, relies heavily on tourism, which contributes 45 percent of GDP. Recent reforms have reduced public debt from 103 to 62 percent of GDP, lowered unemployment to a historic 2.1 percent, and spurred growth. Building on this momentum, the new framework supports the government’s #PlanBelize development agenda, focusing on investments in water, sanitation, waste management, and climate-resilient farming practices, while also positioning Belize as a logistics hub connecting the Caribbean and Central America.
Prime Minister John Briceño emphasized the importance of this partnership in steering the economy toward stronger, more inclusive growth. The framework addresses pressing energy challenges, as peak demand has risen nearly 50 percent while half of Belize’s electricity is imported under volatile conditions. To support the energy transition, the strategy will strengthen policy and regulation, improve distribution management, and structure public-private partnerships to attract investment.
Workforce development is another priority, with a focus on addressing skills shortages and closing the gender gap. In mid-2025, only 46.9 percent of working-age women were in the labor force compared to 72.3 percent of men, largely due to childcare responsibilities. The framework proposes investments in early childhood education and care in underserved regions to enable more women to participate in the workforce.
The World Bank Group will deploy a “One World Bank Group” approach, combining resources from IBRD, IDA, IFC, and MIGA to support Belize’s development goals. Belize benefits from highly concessional financing through IDA’s Small States Exception, ensuring that the strategy is both financially sustainable and aligned with the country’s long-term priorities.
