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JIS News

The Development Bank of Jamaica (DBJ) has made a reduction in the line of credit for energy projects, lowering rates twice in the last year from 12.5 percent to 9.75 and now to 9.5 percent, to assist Jamaican entrepreneurs with high energy costs.
Managing Director of the DBJ, Milverton Reynolds was speaking at a recent press briefing at Jamaica House on DBJ grant funding for Micro, Small and Medium Sized Enterprises. He said the DBJ is keen on seeing more activity in the area of energy efficiency because of the effects of the high cost of energy to the country. The DBJ also announced three key initiatives to assist the productive and agricultural sectors.
The measures are the lowering of DBJ interest rates on new loans with immediate effect; a six month moratorium on principal payments for existing agricultural loans which will primarily assist farmers affected by Tropical Depression Nicole and Hurricane Tomas; and a technical assistance grant of $30 million for the agricultural and MSME Alliance sectors.