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,...

Economic Programme Oversight Committee (EPOC) Co-Chair, Keith Duncan, believes Jamaica is and will be in good stead to manage its affairs after the borrowing relationship with the International Monetary Fund (IMF) concludes later this year. “We will have sufficient [net international] reserves, our debt levels will be down, tax revenues are buoyant, and we will continue to run primary surpluses,...

The Government has budgeted $23 million to support the development of a payment for ecosystems services (PES) scheme, which is expected to improve the provision of critical ecosystem services in the Hope and Yallahs River watersheds. This is outlined in the 2019/20 Estimates of Expenditure, tabled in the House of Representatives recently. The specific objectives of the programme include decreasing...

The National Environment and Planning Agency (NEPA) will be spending $60.2 million in the new fiscal year on the restoration and enhanced management of the Negril Great Morass. The funds will be used to complete a knowledge, attitude practices, and behaviour survey; conclude hydrological assessment and land use survey; commence an ecological assessment; develop and implement a public education programme;...

The Social Development Commission (SDC) is encouraging small entrepreneurs within communities to access its services through the Local Economic Development Support Programme (LEDSP). Speaking with JIS News, Acting Public Relations Manager at the SDC, Mandel McKulsky said Local Economic Initiatives (LEIs) can benefit from capacity building to develop business plans and models. “We help with network building and creating partnerships...