The Inter-American Development Bank has approved a loan to Belize for 10 million US dollars to help reduce the effects of climate change in Belize City and Caye Caulker.
A press release from the IDB says that the money will be used by the Government for climate resilience measures in the tourism sector, and to assist in the improvement of disaster risk management governance.
Their research says that between 1930 and 2016, Belize has been one of the countries in Latin American and the Caribbean that has been most afflicted by extreme meteorological events such as hurricanes and tropical storms. It has been hit by 16 major tropical storms, at least 1 every 5 years, affecting over 287 thousand Belizeans, and causing about 635 million US dollars in damages and losses.
So, the IDB wants to assist residents living in and around Collet Canal, to reduce flooding when any kind of thunderstorms hit. They are also trying to help mitigate beach erosion for the residents of Caye Caulker, near the Palapa Gardens Beach.
Planned works include a pumping station, the installation of floodgates in canals to control water flow, and actions to control coastal erosion in Palapa Gardens beach on Caye Caulker.
Today, we spoke with the IDB's Country Representative, and we asked them why these two areas were chosen to receive aid. Here's what she told us:
The IDB says that this project is expected to directly or indirectly benefit over 103 thousand Belizeans living in Belize City and Caye Caulker. The US$10 million loan, from the Bank's ordinary capital, is for a 25-year term, with a 5.5-year grace period..