PRESS RELEASE - The Development Bank of Jamaica (DBJ), through its Jamaica Venture Capital Programme (JVCP), has announced that it is providing a programme of capacity building and technical assistance (CB-TC) to three university-based incubators over an 18-month period. The programme of intervention is multi-pronged and covers, a needs assessment, a ‘study tour’, the development of a strategic plan, and...

PRESS RELEASE - Jamaica’s continued quest to develop a sustainable private equity and venture capital industry has once again been recognized by the Latin American Private Equity and Venture Capital Association (LAVCA) Scorecard for 2017/18, moving up five (5) points, and ranking a joint 8 th with two other countries, on the 11-member Scorecard. Jamaica’s improved ranking puts it on...

The World Bank says Jamaica is poised to generate increased economic growth of two per cent and more per annum by the 2018/19 fiscal year. The Bank’s Lead Economist, Philip Schuler, says this projection is based on the Government’s prudent fiscal stance and the resulting stable inflation rate; improvement in the country’s current account balance; and heightened business confidence, which...

The Government’s economic reform agenda will be further boosted with the provision of another World Bank Development Policy Loan (DPL) in the sum of approximately J$9.05 billion (US$70 million). This provision will further underpin the Administration’s ongoing policy implementation, aimed at spurring growth and development while enhancing Jamaica’s global competitiveness. The loan, which is the third by the Bank since...

The real estate industry is being hailed for its significant contribution to the national economy. Minister of State in the Ministry of Finance and the Public Service, Hon. Fayval Williams, said the industry is moving in the right direction. “A vibrant real estate market is an indication of the health of the economy, [and] the data suggests that the industry...

Jamaica’s World Bank Country Strategy, which focuses on strengthening the conditions that facilitate economic growth, is being extended for another two years. Country Manager for Jamaica, Galina Sotirova, says the Bank’s Board of Executive Directors is scheduled to meet on Friday, June 23, to review and update the Strategy, which was developed in 2013/14. This, she said, will enable the...

The Government is to undertake a public education campaign on the National Financial Inclusion Strategy (NFIS). State Minister in the Ministry of Finance and the Public Service, Hon. Fayval Williams, said the campaign will raise awareness among entrepreneurs of the steps needed to regularise their enterprises and access assistance from financial institutions. She was speaking in an interview with JIS...