IDB Hails Launch Of InvestmentMap Jamaica And Urges Citizens To Utilise The Platform

The Inter-American Development Bank (IDB) has commended the Government of Jamaica for launching InvestmentMap Jamaica and is encouraging citizens to utilise the platform to keep track of public projects.

The platform was implemented through funding from the IDB’s Transparency Fund.

IDB Senior State Modernisation Specialist, Francesco De Simone, noted that the Administration remained resolute in launching the transparency tool and did not allow the challenges of the global pandemic to cause a postponement.

“When the pandemic arrived at the beginning of last year, we were working on the launch of InvestmentMap in Jamaica. The launch took place in November and we were delighted because under these circumstances it would have been easy for the Government to just dismiss it or put a hold on it, but the Government and Ministry of Finance and Public Service were quite determined to push forward,” he noted.

Mr. De Simone was speaking at the Open Government Partnership webinar on ‘Government and Citizen Partnership in Jamaica’s COVID-19 Response and Recovery’ on February 19.

InvestmentMap Jamaica is a digital platform that allows public access to information on projects being implemented by the Government, including construction of roads, bridges and schools, government reform, and climate resilient projects.

“This is a platform that makes available, information on public projects, particularly on spending and the physical advancement of projects. It includes a module for citizens to contribute their views and also their own pictures and other types of inputs to these types of projects,” Mr. De Simone pointed out.

“I invite people to go and check out the InvestmentMap platform. It is a fantastic platform that I definitely encourage people to consult,” he urged.

Mr. De Simone also shared that the organisation is working with the Companies Office of Jamaica (COJ) to create a “beneficial ownership” framework that will further improve transparency in the country.

Beneficial ownership refers to natural persons, who ultimately own or control a legal entity or arrangement, such as a company, a trust, or a foundation.

Mr. De Simone said that beneficial ownership is “a critical area, which is essential to understanding where money is going and flowing, both between the public and private sectors and within the private sector. It is another area in which Jamaica has done a lot of terrific work over the last couple of years”.

“What Jamaica is doing right now is to actually implement the financial action task force standard on beneficial ownership, which will significantly reduce the opportunity for people to hide the names of beneficiaries or companies that are being fueled by proceeds of corruption, money laundering, drug trafficking etc.,” he explained.

The IDB, in partnership with respective governments, has established InvestmentMap platforms in Argentina, Colombia, Costa Rica, the Dominican Republic, Paraguay, and Peru. Jamaica is the first English-speaking country in the Latin America and Caribbean region to launch the platform.

The IDB is also working on developing conflict of interest frameworks within the region and has already established a COVID-19 module in InvestmentMap for Costa Rica, Paraguay and Argentina, in furtherance of transparency and public accountability.