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Minister of Finance and the Public Service, Hon. Audley Shaw, has said that the Development Bank of Jamaica (DBJ) will make $1 billion available to support micro and small businesses. Mr. Shaw said that this has become necessary in light of the challenges, relating to the provision of collateral for loan applications, which these sectors are experiencing. "It is a...

The Tourism Enhancement Fund (TEF) will be launching a $100 million funding facility next month, through which new entrants in the tourism sector can access capital. "This one is targeted to more the new businesses, the entrepreneurs with an idea...and they want to get funding to either start their business or expand their business, explained Executive Director for the (TEF),...

Minister of Finance and the Public Service, Hon. Audley Shaw, has appealed to financial institutions to play a greater role in facilitating entrepreneurial activity and productivity in Jamaica. "It is time for a redefinition of your role as financial institutions in Jamaica. It cannot be just about how many Government papers we can buy anymore. It has to be about...

Minister of Finance and the Public Service, Hon Audley Shaw, has lauded the National Commercial Bank's (NCB) decision to introduce a $1 billion loan fund, to support small and medium sized enterprises (SMEs), as of November. The Ministry, in a release Friday, said that in correspondence commending the bank on its initiative,earlier this week, Mr. Shaw indicated that he welcomed...

The Government's tax reform programme will benefit from the input of the Inter-American Development Bank (IDB) and the United States' Internal Revenue Service (IRS) and Treasury Department, Finance and the Public Service Minister, Hon. Audley Shaw, has announced. Addressing Scotia DBG Investments' Corporate Investment Seminar at the Terra Nova Hotel, Kingston, on Thursday (October 22), Mr. Shaw said the IDB...

Minister of Finance and the Pubic Service, Hon. Audley Shaw, has assured the country that the application process for the US$1.2 billion standby facility Jamaica is seeking from the International Monetary Fund (IMF) is "running fairly smoothly". Addressing a Scotia DBG's Corporate Investment Seminar at the Terra Nova Hotel, Kingston, on Thursday (October 22), Mr. Shaw said that discussions with...

Minister of Finance and the Public Service, Hon. Audley Shaw, has said that Government will be placing increased emphasis on containing crime, noting that efforts at social and economic reform will come to naught unless the monster of crime is brought under control. "None of what we are planning is going to be successful unless we bring the monster of...

The Fraud Squad acting, on information provided by the Revenue Protection Division (RPD), on Monday (October 12) arrested and charged an employee of the Inland Revenue Department (IRD) on several counts, including fraud and uttering forged documents, a release from the Ministry of Finance and the Public Service reported yesterday (October 13). The Ministry said that the employee has been...

Minister of Finance and the Public Service, Hon. Audley Shaw, has emphasised that the Government's commitment to good governance meant that focus must be placed on the relevance of all government institutions and their responsiveness to the needs of the public. "We are going to have to ask ourselves questions such as: Are we providing the support services that can...

Minister of Finance and the Public Service, the Honourable Audley Shaw, has commended Scotiabank Jamaica on the launch, yesterday (October 12), of its $500 million facility for small and medium sized businesses. The new facility, the Productive Sector Growth Fund, targets enterprises under two years old with access to loans at an interest rate of 9.95 per cent. In a...

Minister of Finance and the Public Service, the Hon Audley Shaw, met Thursday (October 8) with Inter-American Development Bank (IDB) President, Luis Alberto Moreno, in Madrid, where he encouraged increased IDB support to Jamaica, particularly in the areas of agriculture and energy, in addition to policy based loans. His call came in the context of the 98th Meeting of the...

Speaking on behalf of the Caribbean region at the 98th Meeting of the Committee of the Board of Governors of the Inter-American Development Bank (IDB) in Madrid, Spain, today (October 8), Minister of Finance and the Public Service, the Honourable Audley Shaw, recognised the increased role of the IDB in the development efforts of the Caribbean, noting that the Bank...