By Belize Live New Staff: On Wednesday, the Government of Belize and the Millennium Challenge Corporation (MCC), a U.S. government agency, signed a landmark five-year US$125 million/BZD$250 million Grant Agreement. This substantial investment aims to boost education and energy sectors in Belize, fostering sustainable and inclusive economic growth.
Prime Minister John Briceño and MCC CEO Mrs. Alice Albright led the signing ceremony, symbolizing a strong partnership between the two nations. The event was graced by the presence of U.S. Ambassador to Belize, Michelle Kwan, and Minister of State in the Ministry of Finance, Economic Development & Investment, Christoper Coye, further highlighting the significance of this collaboration.
MCC investments are strategically designed to reduce poverty through sustainable and inclusive economic growth. In Belize, the Compact will address challenges in education and high electricity costs that currently hinder progress.
Two key projects will be implemented under this compact: the Education Project and the Energy Project. Both will be executed by the newly established Millennium Challenge Account-Belize (MCA-Belize Authority), a statutory body formed in August 2024. Project implementation is slated to begin in 2025.
The Education Project aims to increase the number of post-primary graduates equipped with skills relevant to the labor market. This will be achieved by transforming teaching and learning, promoting access and progression through secondary education, and strengthening the Technical and Vocational Education and Training (TVET) sector.
The Energy Project will focus on reducing electricity costs by facilitating new power purchase agreements for lower-cost renewable energy, modernizing the grid, and supporting the Government of Belize in improving policies and regulations for efficient renewable energy use.
The Millennium Challenge Corporation is an independent U.S. government development agency dedicated to reducing global poverty through economic growth. Founded in 2004, MCC provides time-limited grants that combine infrastructure investments with policy and institutional reforms to countries demonstrating good governance, anti-corruption efforts, and respect for democratic rights.
