Photo credit: Belize Electricity Limited (BEL)

• Strategic financing for BEL will improve Belize’s electricity system through modern energy services infrastructure, including smart grid solutions and network upgrades.

• The project will provide essential working capital and long-term investment to support BEL’s capital expenditure program and operational needs.

   

WASHINGTON – IDB Invest has provided a corporate loan of up to US$15 million to Belize Electricity Limited (BEL) to finance essential infrastructure upgrades and operational improvements. The investment will help BEL meet growing electricity demand and improve network performance through smart grid deployment, IT modernization, network upgrades, and the expansion of LED street lighting. 

These initiatives are expected to reduce transmission and distribution losses while contributing to Belize’s long-term sustainability and energy resilience goals.

The partnership also delivers financial additionality by offering long-term financing not readily available in the local market. While domestic financing options are available, IDB Invest adds value through its ability to provide longer-tenor and development-focused financing, along with access to the best international practices and technical support. The partnership enables BEL to continue making critical investments while enhancing the structure and diversity of its funding sources.

About IDB Invest

IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of US$22 billion in managed assets and more than 400 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that respond to the needs of its clients in various sectors. Visit our website idbinvest.org.

About Belize Electricity Limited (BEL)

Belize Electricity Limited (BEL) is the primary distributor of electricity in Belize, Central America. The Company served a customer base of 113,698 accounts, sold 705.2 gigawatt-hours (GWh) of energy, and met peak power demand of 129.2 megawatts (MW) in 2024. BEL owns and operates the national electricity grid which includes approximately 2,000 miles of transmission and primary distribution lines. Additionally, the Company owns 55 MW of installed generation capacity used primarily for backup supply. The national electricity grid is supplied from multiple energy sources including hydro, biomass, solar, and fossil fuels. The Government of Belize (GOB) has direct ownership of 32.58% interest in the Company, whilst the Social Security Board (SSB) owns 31.27% resulting in public sector interest of 63.85%. Fortis Cayman Inc. owns 33.30% interest and over 1,500 small shareholders own the remaining 2.85% interest in ordinary shares.