The Government of Belize has embarked on a program to contribute to the reduction of poverty in rural populations. This is a US $6 million program which is being done in partnership with the Belize Credit Union League. Lorne Solis, the Program Manager of the Belize Rural Finance Program, spoke to Love News about this initiative.
LORNE SOLIS
“It is a seven year program and its main objective is to contribute to the reduction of poverty in rural Belize. It is funded through a loan by the Government of Belize from two main organizations, the International Fund for Agricultural Development and the Central American Bank for economic integration. The government is also providing some counterpart funding and the program is working through credit unions to achieve its objective and the credit unions through its own expenditures on activities related to the program is in part providing some funding to the overall cost of the program. One of the main outcomes is that the credit unions that we are working with will be strengthened and have capacity to be able to deliver financial services to the rural sector. So, by the end of this program the credit unions should be in a much stronger position to be able to meet the demands of the rural sector. So, that’s one of the outcomes; secondly, we should have more people from the rural communities being a part of the formal financial sector. People who would not normally be a part of the financial sector will now be empowered as a member of a credit union; these individuals will have more access to financial services, savings and loans and hopefully they will be able to take advantage of credit to start or grow an income generating activity/business and thirdly the Belize Credit Union League is the apex body for the credit union sector in Belize should have its capacity strengthened to be an active leader in the credit union sector. So, those are the main outcomes that are expected from this program.”
Solis explained the criteria for being a part of the program.
LORNE SOLIS
“To be a part of the program, an individual must a member of the participating credit union; that’s the first thing; you have to join a credit union. Other criteria include being Belizean citizen or permanent resident; the program is benefiting only people who are Belizeans or permanent residents. The person must have a valid social security card or another acceptable identification and also the person must live in a rural community. The person would then need to contact one of the participating credit unions and they can guide the individual on how it is that they can benefit from the program or services.”
The six participating credit unions are St Francis Zavier in Corozal, La Inmaculada Credit Union in Orange Walk, Evangel Credit Union in Belize City, St. John’s Credit Union in Belmopan and Dangriga, St Martin’s Credit Union in San Ignacio and Toledo Teacher’s Credit Union in Punta Gorda.
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