Phone: (+501) 822- 3737 or 822-0175 Fax: (+501) 822-0595

Website: www.belizeinvest.org.bz

Ref: BEL/ADMIN/011 (88)

PRESS RELEASE

INTER-AMERICAN DEVELOPMENT BANK (IDB) AND BELTRAIDE SIGN LETTER OF

AGREEMENT

December 2, 2011- The Compete Caribbean Program, a US$40 million private sector

development program jointly funded by the Inter-American Development Bank (IDB),

the United Kingdom Department of International Development (DFID) and the

Canadian International Development Agency (CIDA) is providing a US$325,000 grant to

increase the effectiveness of the Belize Trade and Investment Development Service

(BELTRAIDE) in investment promotion.

The grant will provide the necessary tools to allow BELTRAIDE to refocus its

investment attraction efforts towards key sectors that will drive economic growth in

Belize and upgrade the capacity of its staff to be more productive in investment

promotion. Additionally, the grant will allow increased marketing of Belize’s unique

selling points and provide an opportunity to showcase the many investment

opportunities that exist in the country.

To initiate execution of the two year project, the IDB, in its capacity as Administrator of

the Compete Caribbean Program will sign a Letter of Agreement with BELTRAIDE on

Monday, December 5th, at 10:00am, at El Pilar Room, the Radisson Fort George, Hotel

and Marina.

The signing of the LOA, between BELTRAIDE and IDB, will benefit BELTRAIDE in

strengthening its role as a proactive investment promotion, trade integration and

development unit for Belize.

For more information, please do not hesitate to contact:

Belize Trade and Investment Service (BELTRAIDE)

14 Orchid Garden St., City of Belmopan, Cayo District, Belize

Tel: 501-822-3607

Fax: 501-822-0595

Email: beltraide@belizeinvest.org.bz

nilda@belizeinvest.org.bz

Web Address: www.belizeinvest.org.bz

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FOR IMMEDIATE RELEASE, December 2, 2011