Development Bank of Jamaica provides US$9.5 billion in loans to MSM

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(MENAFN – Caribbean News Global)

By Latonya Linton

KINGSTON, Jamaica, (JIS) – The Development Bank of Jamaica (DBJ) expects to provide $9.5 billion in loans to micro, small and medium-sized enterprises (MSMEs) in the new fiscal year.

It has also provided $6.24 billion in loan guarantees, $24.4 million in equity financing and capacity-building support for 440 companies.

As included in the Public Sector Entities Revenue and Expenditure Estimates for the year ending March 2023, the DBJ’s support aims to fill the gaps in the MSME ecosystem that are impeding growth in the industry by increasing companies’ access to Business development is improved and financing.

As stated in the document, the DBJ will continue to provide support/funding under the $5 billion Social and Economic Recovery and Vaccine (SERVE Jamaica) program to various sectors through Digital Technical Assistance and SME private equity -Provide facilities.

The DBJ will also assist in divesting state-owned assets by facilitating investment through public-private partnerships and privatizations.

In accordance with this bid, the agency intends to complete transactions such as Jamaica Mortgage Bank, Jamaica Railway Corporation, Montpelier and the Cocoa Industry Board.

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