BELIZE CITY, Belize – The Inter-American Development Bank (IDB) is supporting Belize’s efforts to increase labor force participation and improve employability through a financing package of US$8 million.
The operation will support a program that aims to address the country’s skilled labor shortage by strengthening public employment services and expanding access to relevant quality training in high-demand sectors such as tourism, business process outsourcing, and the Information and Communication Technology (ICT) sector.
The program is expected to benefit over 20,000 job seekers, including at least 2,360 individuals trained in priority sectors. It will also support a 200 percent increase in the number of active job seekers registered in the public employment service and 50 percent increase in registered job vacancies.
Prime Minister of Belize, John Briceño, and the general manager of the country department for Central America, Haiti, Mexico, Panama, and the Dominican Republic (CID) of the IDB, Tomás Bermúdez, signed the loan contract for the program during the Belize Investment Summit in San Pedro, Ambergris Caye.
The initiative will modernise Belize’s public employment services by introducing digital platforms for job matching, labor market information, and case management. It will also implement new service models tailored to the needs of vulnerable groups, including outreach strategies, career guidance, and support for entrepreneurship in areas with limited salaried employment opportunities. Furthermore, an employer engagement strategy will be introduced to build partnerships with employers, align services with labor market needs, increase vacancy registrations, and improve job matching.
The program will also develop talent pipelines in priority sectors, offering demand-driven training aligned with employer needs. A pilot initiative will also focus on advanced digital skills, preparing participants for remote and nearshore ICT employment. To support women’s labor force participation, the program will train childcare workers with a focus on caring for children with disabilities. It will also offer stipends to all participants to reduce financial barriers and promote inclusion of vulnerable groups in high-demand sectors.
The program will support migrants by improving access to employment services and training tailored to their needs, including assistance with work permits, language support, and culturally relevant outreach. The IDB’s financing package includes a US$7 million loan with a 5.5-year grace period and US$1 million in non-reimbursable investment financing from the IDB Grant Facility.
The program’s activities will also be financed by the resources of a joint co-financing through a separate loan of US$7 million provided to Belize by Taiwan’s International Cooperation and Development Fund (ICDF).
The post IDB supports Belize in expanding labor force participation and employability appeared first on Caribbean News Global.