Jamaica: $400 million for on-lending to MSMEs

In a move to boost the micro, small and medium-sized enterprise (MSME) sector, the Government will shortly establish a $400-million fund for on-lending to the sector.

Minister of State in the Ministry of Industry, Commerce, Agriculture and Fisheries, Hon. Floyd Green, says the National Export-Import Bank of Jamaica (EXIM Bank), has been charged to institute the facility, and it will be available soon.

The State Minister, told local media after his presentation at a Youth Conference at St. Catherine High School on March 14, that work is taking place with the EXIM Bank for MSME loans that are “accessible to all” who want to develop their enterprises, at rates that they can afford.

The forum was organised by the University of the West Indies (UWI) Governance Club, for high-school students who are preparing for tertiary education, under the theme ‘Total Wellness for a Smooth Transition into University’.

Mr. Green pointed out that the Jamaica Business Development Corporation (JBDC) has been “strengthened” to ensure that persons who want to set up businesses can get help with the preparation of business plans, and marketing support, design and branding for their products.