Belize

                                    Country Partnership Framework

                                                May 30, 2017

                                             Chair Summary*


         Executive Directors discussed the World Bank Group’s FY18-22 Country Partnership Framework
(CPF) (R2017-0115[IFC/R2017-0099, MIGA/R2017-0032] for Belize. They welcomed the CPF’s focus
on fostering climate resilience and environmental sustainability; and promoting financial inclusion and
social resilience.

        Directors recognized the capacity and implementation constraints associated with a small state
and a still nascent engagement with the WBG. They encouraged the Bank to seek opportunities to
leverage its modest program for private sector growth through engagement with IFC and MIGA. They
welcomed Belize’s progress on strengthening economic and social resilience, and appreciated the
emphasis on selectivity. In program implementation, they noted the need to maintain a good level of
coordination among development partners.

         Directors encouraged Bank engagement with the authorities in addressing the macroeconomic
situation, and to promote fiscal sustainability and financial sector stability while noting the role of the
IMF. Directors underscored the importance of Bank support to help the authorities improve financial
regulation and transparency, and strengthen anti-money laundering and counter-terrorism financing
enforcement. These steps could help alleviate the loss of correspondent banking relationships. They
emphasized the importance of increased support for institutional and fiduciary capacity development, in
particular in infrastructure, data availability and resilience building. Finally, Directors called for a strong
focus on male youth and ethnic poverty to address jobs, income inequality and violence.




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*This summary is not an approved record.