Development Partners Supporting Medium-Term Framework

Official Development Assistance (ODA) from International Development Partners (IDPs) continued to play a pivotal role in supporting Jamaica’s Medium Term Socio-Economic Policy Framework (MTF), through a mix of new and ongoing projects and programmes during 2024.

This was highlighted by the Planning Institute of Jamaica (PIOJ) in its latest Economic and Social Survey Jamaica (ESSJ).

The report indicated that new ODA inflows declined by 21.6 per cent in 2024 compared to the previous year. Loan approvals totalled US$58.2 million ($9.2 billion), while new grant financing amounted to US$28.8 million ($4.5 billion), reflecting tighter global financing conditions.

Multilateral Financing Institutions accounted for the majority of new ODA, providing US$60.7 million ($9.5 billion).

In the aftermath of Hurricane Beryl in July 2024, Jamaica received US$8.8 million ($1.4 billion) in grant funding from the IDPs to support relief and recovery efforts across affected communities.

The country’s economic policy direction continued to be guided by Vision 2030 Jamaica, implemented through successive MTF cycles.

Under the MTF 2021-2024, the Government prioritised achieving a stable macroeconomy, with focus areas including sustainable growth, job creation, debt reduction, fiscal discipline, and price stability, supported by reforms such as disaster risk financing and public-sector compensation restructuring.