Over the next five years, a total of US$25 million will be invested in a project designed to finance and aid innovation, entrepreneurship and economic growth of micro, small, and medium-sized enterprises (MSMEs) and business startups. Dubbed ‘Boosting Innovation, Growth and Entrepreneurship Ecosystem (BIGEE)’ the project is being implemented by the Development Bank of Jamaica (DBJ). Making the announcement during...

The Government is being commended for maintaining Jamaica’s Economic Reform Programme (ERP), which is yielding significant benefits for the country. Opposition Leader, Dr. Peter Phillips, says the Administration has continued the implementation of “fundamental aspects” of the Programme, citing several key outcomes. “The progress made by the Programme… has continued in the following areas: the debt is further down; job...

Industry, Commerce, Agriculture and Fisheries Minister, Hon. Audley Shaw, says Jamaica is proving its capability to overcome impediments to growth, based on economic out-turns recorded over the last several years. “We have attained macroeconomic stability, while incrementally improving the levels of growth and gradually reducing debt. Additionally, our investment climate is increasingly improved. Our leading investment promotion agency, Jamaica Promotions...

Prime Minister, the Most Hon. Andrew Holness, says the economic progress made by Jamaica in recent times can be used as a model for other countries to follow. He noted that the economic successes gained came at “great sacrifice” by Jamaicans, but noted that there is “social consensus” among citizens about the changes that are needed for the country to...

Director of Economics at the Caribbean Development Bank (CDB), Dr. Justin Ram, says the organisation is considering the establishment of blue economy satellite accounts for borrowing countries. The initiative will enable member States to measure the direct contribution of the blue economy to national development. This will provide for more timely, valuable and accurate data for strategic planning and decision-making....

The Government, through a loan from the Inter-American Development Bank (IDB), will fund the ‘Global Services Skills Project’ in the 2019/20 fiscal year, at a cost of approximately $165.18 million. Details about the project are outlined in the 2019/20 Estimates of Expenditure, now before the House of Representatives. The objectives of the Global Services Skills Project include promoting the growth...

A total of $34 billion (approximately US$265 million) was raised over the last four years from equity fund investments facilitated under the Jamaica Venture Capital Programme (JVCP). The JVCP was established by the Development Bank of Jamaica (DBJ) in 2013 to provide micro, small and medium-sized enterprises (MSMEs) with access to alternative equity financing. Coordinator of the JVCP, Audrey Richards,...