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HomeBusinessEconomyDevelopment Bank of Jamaica to provide $9.5B in loans to MSME’s

Development Bank of Jamaica to provide $9.5B in loans to MSME’s

By Latonya Linton

KINGSTON, Jamaica, (JIS) – The Development Bank of Jamaica (DBJ) is anticipating the provision of $9.5 billion in loans to Micro, Small and Medium-sized Enterprises (MSME) during the new financial year.

This is in addition to $6.24 billion in credit guarantees, US$24.4 million in equity financing, and capacity-building support to 440 entities.

As contained in the Public Bodies Estimates of Revenue and Expenditure for the year ending March 2023, the support from the DBJ is aimed at addressing the gaps in the MSME ecosystem, which hamper growth in the industry, by improving the entities’ access to business development and financing.

As stated in the document, the DBJ will continue to provide support/financing under the $5 billion Social and Economic Recovery and Vaccine (SERVE Jamaica) Programme to various sectors via the Digital Technical Assistance and the SME Private Equity facilities.

The DBJ will also provide assistance in the divestment of government-owned assets, by facilitating investment through public-private partnerships and privatisations.

In keeping with this imperative, the agency intends to bring closure to transactions including Jamaica Mortgage Bank, Jamaica Railway Corporation, Montpelier, and the Cocoa Industry Board.

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