Credit Enhancement Programme Gets $830 Million
By: , February 17, 2020The Key Point:
The Facts
- The Credit Enhancement Programme is geared towards promoting productive investments in micro, small and medium-sized enterprises (MSMEs) in Jamaica, by enhancing their access to financing, particularly medium- and long-term loans.
- This Programme is also funded by the Inter-American Development Bank (IDB). The anticipated target for the 2020/21 fiscal year includes issuing 86 bank guarantees to SMEs.
The Full Story
The Government has allocated approximately $830 million to the Credit Enhancement Programme for the 2020/21 fiscal year.
The Credit Enhancement Programme is geared towards promoting productive investments in micro, small and medium-sized enterprises (MSMEs) in Jamaica, by enhancing their access to financing, particularly medium- and long-term loans.
This Programme is also funded by the Inter-American Development Bank (IDB). The anticipated target for the 2020/21 fiscal year includes issuing 86 bank guarantees to SMEs.
One major goal of this investment is to increase the number of MSMEs with guaranteed loans through the Credit Enhancement Fund – Loan Guarantee Fund, and increase the number of MSMEs getting access to risk capital.
Up to December 2019, some 219 guarantees were issued to SMEs from the Credit Enhancement Programme.
Details on the project are outlined in the 2020/21 Estimates of Expenditure, now before the House of Representatives.