Rural Economic Development Initiative Gets $350 Million
By: , April 7, 2014The Key Point:
The Facts
- The funds have been set aside in the Government’s proposed budget for 2014/15.
- The project, which began in January 2010, aims to improve market access for micro and small-scale rural agricultural producers, and tourism projects.
The Full Story
Small farmers and tourism projects in rural Jamaica will receive a boost of $350 million this fiscal year, under the Rural Economic Development Initiative (REDI).
The funds have been set aside in the Government’s proposed budget for 2014/15.
The project, which began in January 2010, aims to improve market access for micro and small-scale rural agricultural producers, and tourism projects.
Thirty-eight sub-projects in tourism and agriculture have been implemented under the initiative, as at March 2014.
Other achievements include the development of a community-based tourism policy and implementation strategy, as well as the completion of a pig survey and pork value chain analysis, by the Ministry of Agriculture and Fisheries.
For this financial year, the Government plans to execute 31 sub-projects as well as formulate plans for 36 sub-projects to be implemented in 2015/16.
The initiative is slated to run until July 2016 and is being implemented by the Jamaica Social Investment Fund (JSIF), with funding from the World Bank.