JSIF Disburses $1.94 Billion for Poverty Alleviation and Community Development Projects

The Jamaica Social Investment Fund (JSIF) disbursed a total of $1.94 billion in project funding and completed 74 sub-projects aimed at poverty alleviation and community development, during the 2013/14 financial year.

This was disclosed by JSIF’s Managing Director, Scarlette Gillings, at the agency’s 18^th annual general meeting held on Wednesday (October 1), at its offices in New Kingston.

Mrs. Gillings informed stakeholders that expenditure for the financial year reflected heavy investment in inner-city renewal.

Work was done under three major programmes – the Inner City Basic Services Project; the Poverty Reduction Programme II; and the close out of the Jamaica Violence Action Fund project.

“These focused exclusively on volatile and vulnerable communities, accounting for 46 per cent of our total sub-project disbursement,” Mrs. Gillings said.

The Managing Director informed that there was also strong emphasis on rural development, evidenced by the work done under the Rural Economic Development Initiative (REDI), which was funded by the World Bank at some US$15 million; and the Community Investment Project and Basic Needs Trust Fund (phase six), with funding from the Caribbean Development Bank (CDB).

“These projects accounted for 29 per cent of the total project disbursement,” Mrs. Gillings informed.

She further pointed out that during the year, JSIF saw to the completion of projects which, over an eight year span, collectively disbursed more than $5. 2 billion that directly benefited over 129,000 persons in underserved communities across the island.

Mrs. Gillings also noted that with improved fiscal space, JSIF aims to deepen its involvement and broaden its reach, with specific focus on demand-driven interventions.

To this regard, she informed that the World Bank has approved a loan for US$42 million to expand activities under the Integrated Community Development Project (ICDP).

She informed that the World Bank is also considering approving another loan to the Government for the implementation of the Disaster Vulnerability Risk Reduction Project, which will cost some US$40 million to US$50 million. “We plan to go to the World Bank board in February 2015,” she said.

Mrs. Gillings said the agency’s current portfolio strongly supports the Government’s strategic priorities for 2015/16, in the areas of job creation, economic growth, improved security and safety, human capital development, and effective social inclusion.

The Managing Director also thanked the agency’s many partners, including community members across the island; the various government ministries, agencies and departments; as well as private sector and non-governmental organisations.