Belize Social Investment Fund III (CDB-2016-SOCIALFUNDBELIZE)

Countries
  • Belize
Geographic location where the impacts of the investment may be experienced.
Specific Location
Maria Crawford Centre, Crooked Tree Village, Belmopan, Cayo District
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Caribbean Development Bank (CDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 8, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Belize
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Education and Health
  • Water and Sanitation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Loan Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 12.52 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ CDB website

Updated in EWS Jun 22, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the CDB, the project will increase gender-equitable and inclusive access to climate resilient infrastructure and quality, and basic social services for poor and vulnerable communities.
The project is targeting education and health facilities, and the water distribution infrastructure.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The executing agency for the project is the Belize Social Investment Fund.

As stated on the company's website, the Belize Social Investment Fund was incorporated in 1996 as a Statutory Body through the Belize Social Investment Fund Act. According to the Act, “The Fund shall, subject to the availability of resources, approve projects and programmes and provide, either wholly or partially, financial and technical assistance to community groups with development goals, and local government organizations, for the execution of such projects or programmes which will serve to provide basic services to the most severely affected groups in the country.”

The companies that have been awarded contracts under this project are mostly from Belize.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Angelus Press Contractor Communications
- - - - Belize Formulators Ltd Contractor Construction
- - - - Belize Red Cross Contractor Humanitarian Response
- - - - Belize Social Investment Fund Client Education and Health
- - - - Belmopan Aggregates and Hardware Contractor Construction
- - - - Fultec Systems Ltd. Contractor Industry and Trade
- - - - Price & Company Ltd Contractor Industry and Trade
- - - - Spiez Pharmaceuticals Ltd Contractor Industry and Trade
- - - - Universal Hardware Company Ltd Contractor Industry and Trade
- - - - Young's Engineering Consultancy Ltd Contractor Construction

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

CDB Team Leaders:

Mr. Daniel Best - Director, Projects Department 
Email: bestd@caribank.org
Phone: +246 431-1710

Ms. Deidre Clarendon - Division Chief, Social Sector Division
Email: clarend@caribank.org
Phone: +246 431-1656

Executing Agency - Belize Social Investment Fund:

Address: 1902 Constitution Dr, Belmopan, Belize
Email: info@sifbelize.org
Phone: +501 822-0508/9 / +501 822-0239
Website: https://sifbelize.org/

Contractors -

Young’s Engineering Consultancy Ltd:

Address: P. O. Box 2665, 828 Coney Drive, Belize City, Belize
Phone: +501-223-2072
Email: info@yecbelize.com
Website: https://www.yecbelize.com/

Universal Hardware Company Ltd:

Address: Universal Hardware Company Ltd., 585 Center Road, Spanish Lookout, Cayo, Belize, Central America
Phone: +501 823 0254
Website: https://universalhardware.bz/about.html

Belize Red Cross:

Address: 1 Gabourel Lane, P.O. Box 413, Belize City, Belize, Central America
Phone: +(501) 207-3319
Email: bzercshq@btl.net
Website: http://www.belizeredcross.org/ 

Belize Formulators Ltd:

Address: 140 Samuel Haynes St, Belize City, Belize
Phone: +501 223 5291
Email: belizeformulators@gmail.com
Website: https://belizeformulators.com/

Belmopan Aggregates and Hardware:

Address: 5 Forest Dr, Belmopan, Belize
Phone: +501 822-0502
Email: sales@bahbz.com
Website: https://bahbz.com/

Fultec Systems Ltd:

Address: 831 Coney Drive, Belize City, Belize
Phone: +501223-3226 / +501 610-1260
Website: https://fultecsystemsltd.business.site/

Spiez Pharmaceuticals Ltd:

Address: 1953 Coney Drive, Belize City, Belize C.A
Email: spiezltd@yahoo.com
Phone: +501-203-3004/+501-627-5406
Fax: +501-2033004
Website: https://www.spiezpharma.com/

Angelus Press:

Address: PO Box 217, Saint Marys, KS 66536-0217, USA
Phone: +1 816-753-3150
Fax: +1 816-753-3557
Email: support@angeluspress.org
Website: https://angeluspress.org/

Price & Company Ltd:

Phone: +501 223-5239
Email: sales@priceandcompany.com.bz
Website: https://www.priceandcompany.com.bz/

ACCOUNTABILITY MECHANISM OF THE CDB

Complaints about suspected fraud and/or corruption may be submitted to the Office of Integrity, Compliance and Accountability. Allegations may be made by a variety of sources including staff, consultants, contractors, and other persons who may consider themselves participants in, witness to or victims of wrongdoing.

To make a complaint, access the following webpage: https://secure.ethicspoint.com/domain/media/en/gui/55678/index.html.

 

How it works

How it works