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Development Finance Corporation Signs CRESAP Agreement in Belize

In a landmark initiative to bolster agricultural sustainability and resilience against climate impacts, the Development Finance Corporation (DFC) has joined forces with the Government of Belize, the World Bank, and the Social Investment Fund to launch the Climate Resilient and Sustainable Agriculture Project (CRESAP).


This ambitious program, officially launched on June 26, 2024, aims to revolutionize agricultural practices across Belize by promoting climate-smart farming techniques and enhancing productivity. The World Bank has pledged a substantial funding of US$25 million to the Ministry of Agriculture, Food Security, and Enterprise of Belize for the implementation of CRESAP. The Social Investment Fund will oversee project implementation on behalf of the government, while the DFC will act as the Participating Financial Institution, co-financing eligible projects.


CRESAP is set to benefit approximately 3,700 farmers across Belize through a series of matching grants aimed at boosting agricultural yields in key sectors such as crops and livestock. The project emphasizes the adoption of sustainable land management practices and aims to improve the resilience of agricultural producers through comprehensive support measures.


A significant aspect of CRESAP is its commitment to gender equality in agriculture, aiming to ensure that at least 30% of project beneficiaries are women. This strategic focus not only addresses gender disparities but also empowers women farmers by providing them with equal opportunities in the agricultural sector.


The overarching goal of CRESAP is to foster a more resilient and sustainable agricultural landscape in Belize, mitigating the adverse effects of climate change on farming communities while promoting economic growth and food security.

 

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