$24.3M Earmarked to Complete Credit Enhancement Programme
By: , February 23, 2023
Photo: Rudranath Fraser
Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, speaks after tabling the 2023/24 Estimates of Expenditure in the House of Representatives on February 14.The Full Story
Approximately $24.3 million has been earmarked for the completion of the Credit Enhancement Programme in the upcoming fiscal year.
The sum is contained in the 2023/24 Estimates of Expenditure, now before the House of Representatives.
The project’s objective is to promote productive investments in micro, small and medium-sized enterprises (MSMEs) in Jamaica by enhancing their access to financing, particularly medium and long-term loans.
Up to December 2022, some 1,059 guarantees were issued to MSMEs, and in the upcoming fiscal year it is anticipated that project closure activities will be executed.
The project is being funded by the Inter-American Development Bank (IDB) and implemented by the Development Bank of Jamaica (DBJ).