DBJ to Issue 64 Bank Guarantees to SMEs

The Development Bank of Jamaica (DBJ) will be issuing 64 bank guarantees to small and medium-sized enterprises (SMEs) in the upcoming fiscal year.

This exercise is to be carried out under the Inter-American Development Bank (IDB)-funded Credit Enhancement Programme.

A sum of $250 million has been set aside in the 2018/19 Estimates of Expenditure for this purpose.

The project, which is slated to run from September 2017 to September 2022, aims 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.

The Estimates was tabled in the House of Representatives on February 15 by Minister of Finance and the Public Service, Hon. Audley Shaw.