Blue Creek Credit Union has officially become a Participating Financial Institution (PFI) for the implementation of the Climate Resilient and Sustainable Agriculture Project (CRESAP). The signing ceremony, a pivotal moment in the collaboration, took place today, with Hon. Jose Abelardo Mai, Minister of Agriculture, Food Security and Enterprise, serving as the keynote speaker and signatory on behalf of the Ministry of Agriculture, Food Security and Enterprise.
Leaders from Blue Creek Credit Union, along with personnel from the Belize Social Investment Fund (SIF) – the implementing agency, and representatives from CRESAP, were present at the ceremony.
In signing the Participation Agreement, Blue Creek Credit Union commits to playing a crucial role as a Participating Financial Institution (PFI). This designation enables the credit union to disburse funds to qualified farmers participating in the CRESAP project. The overarching goal of CRESAP is to boost agricultural productivity and fortify resilience against climate change risks. A substantial amount of $16 million US dollars will be channeled through PFIs to support the adoption of climate-smart agriculture technologies.
Hon. Jose Abelardo Mai emphasized the significance of Blue Creek Credit Union’s involvement, stating, “Partnerships like these are instrumental in driving sustainable agricultural practices and mitigating the impacts of climate change on our vital agricultural value chains.”
The CRESAP project will initially focus on four priority districts—Cayo, Orange Walk, Corozal, and Belize—where climate change and variability are expected to have pronounced effects on key agricultural value chains, including sugar cane, rice, maize, soybean, vegetables, livestock, and fruits. Additionally, activities may extend to benefit value chains in banana and citrus, along with farmers in Stann Creek and Toledo districts.
This collaborative effort signifies a unified commitment to building climate resilience within the agricultural sector and fostering sustainable development for the benefit of farmers and communities nationwide.