Development Finance Corporation Belize

Development Finance Corporation
Industry Financial services
Founded September 27, 1963 (1963-09-27)
Headquarters Belmopan, Belize
Area served
 Belize
Key people
 Dennis Jones
Chairman
Yvette Alvarez
Deputy Chair
Jose Alpuche
Ex-Officio Director
Lizbeth Castillo
Private Sector Director
Eleanor Bodden Gillett
Private Sector Director
Yvonne S. Hyde
Ex-Officio Director
Kent Herrera
Private Sector Director
Andrea McSweaney Mckoy
Private Sector Director
Allen P. Reimer
Private Sector Director
Products Financing for:
Home
Tourism
Renewable Energy
Business
Agriculture
Education
Website Website

Development Finance Corporation (DFC) is the only development bank in Belize, Central America. Established in September 27, 1963, the bank provides micro sector enterprise (small business) loans, home loans, student Loans, productive sector loans (agriculture, manufacturing, fisheries, etc.) and in 2016, renewable energy and energy efficiency loans for businesses. Since 2009, the DFC has invested over $160 million in the people and economy of Belize. DFC is not a cash-deposit Bank. The Corporation accesses financing from larger regional and international lending institutions at attractive rates for lending to Belizeans Citizens, Residents, companies, cooperatives and other bodies with Belizean majority share Interest. Its purpose is to support the strengthening and expansion of Belize’s economy by providing developmental financing on an economically sustainable and environmentally acceptable basis to individuals, businesses and organizations.

History

The Development Finance corporation was established in Belize, Central America on September 27, 1963 under the DFC Ordinance No.2 of 1961 as amended by No. 15 of 1963. It was owned by the private sector. In 1973 DFC was restructured and became a financial institution owned by the Government of Belize. This entity fell under the responsibility of the Ministry of Finance and Defense. The DFC now operates under the New DFC Act No. 1 of 2009 of the Laws of Belize. On September 27, 2013 the Corporation celebrated 50 years of service to Belize,also unveiling its new logo. Always innovating, DFC introduces Renewable Energy and Energy Efficiency Financing for businesses.

Mission

To provide development financing and related services which contributes to sustainable growth of the Belizean economy.

Vision

The Leader in Development Financing in Belize.

Branches

Economic impact

Since 2009, the DFC has invested $163.128 million Belize dollars in the people and economy of Belize. Productive sector lending represent 69.5 per cent of DFC's total loan portfolio. As of August 2016, the DFC hold 6,439 loan accounts.

Loan disbursement

X = Year Y = $ BZD (Millions)

References

    [1]

    Official website

    1. ↑ DFC http://www.dfcbelize.org/. Retrieved 7 March 2017. Missing or empty |title= (help)
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