House Approves US$5 Million Loan for Small Business Sector

The House of Representatives on Tuesday (Sept. 26) approved government’s guarantee of a US$5 million loan to the Development Bank of Jamaica from the Organisation of Petroleum Exporting Countries (OPEC).
The money will be on loan to approved financial intermediaries (AFIs), which will in turn, disburse funds to small and medium sized entities involved in agriculture, agro-processing, manufacturing, mining and quarrying, and tourism.
Finance and Planning Minister, Dr. Omar Davies, who tabled a Ministry Paper outlining the details of the loan guarantee, informed that the loan term was 7