June 24, 2025
The International Finance Corporation (IFC), a member of the World Bank Group, and the Government of Belize have signed a Memorandum of Understanding (MOU) aimed at developing a pipeline of investable Public-Private Partnerships (PPPs) in the Caribbean country.
The MOU —concluded during a high-level mission to Belize led by World Bank Vice President for Latin America and the Caribbean, Carlos Felipe Jaramillo, and IFC Vice President for Latin America and the Caribbean, Alfonso García Mora— establishes a framework to foster collaboration on PPPs, with IFC working alongside the government to review the economic and financial feasibility of proposed projects across key sectors such as energy, infrastructure, logistics, digitization and the blue economy, with a view to attracting private sector investors. Additionally, the World Bank will support the development of PPP regulation and strengthen government capacity to implement PPPs.
“PPPs are a powerful tool to drive national development. By strategically involving the private sector, we can improve infrastructure and service delivery while maximizing the mobilization of capital,” said Prime Minister John Briceño. “Leveraging the World Bank Group’s experience and expertise, we reaffirm our commitment to deliver high-impact projects that benefit the Belizean people.”
“PPPs allow governments to leverage the expertise and efficiency of the private sector, raise much-needed capital, and spur economic development,” said IFC’s García Mora. “IFC brings global experience in structuring successful PPPs that are financially sound, sustainable, and aligned with national priorities. We are pleased to support Belize in delivering better infrastructure and services through well-structured partnerships.”
“A strong legal foundation and capacity building are key to successful PPPs”, said the World Bank’s Jaramillo. “Through this collaboration between the World Bank and IFC, we are bringing together policy expertise and transaction experience to help Belize unlock private investment for critical infrastructure”.
Through this partnership, IFC is expected to provide technical and advisory support to the Government of Belize on project design, financial structuring, risk allocation, and transparent procurement processes, with the goal of ensuring that PPPs are bankable for the private sector, sustainable, and deliver value for money.
The MOU builds on the World Bank Group’s flagship PPP project in the country, Belize Solar, which will help reduce electricity costs, increase renewable energy sources, and ensure a stable power supply for homes and businesses.
Since 2004, IFC has advised and closed 183 PPP projects in 60 countries, contributing nearly $67 billion in private investment in developing countries. PPP projects that IFC has helped structure and implement have benefitted 174 million people in emerging markets through better access to electricity, water, sanitation, transport, and health care.