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  • For the 2016/17 fiscal year, the Micro Investment Development Agency (MIDA), through microfinance organisations (MFOs), disbursed a total of $143.58 million to finance 1,396 microenterprises.
  • Through a revolving pool of resources generated primarily from the Government of Jamaica/Government of the Netherlands Loan Portfolio, MIDA provides financing to assist new and existing MSMEs in agriculture, manufacturing and services, among other sectors.
  • Since its inception in 1991, MIDA has disbursed $3.48 billion to the micro, small and medium-sized enterprise (MSME) sector and has recovered some $2.9 billion as of March 2017, the report outlines.

For the 2016/17 fiscal year, the Micro Investment Development Agency (MIDA), through microfinance organisations (MFOs), disbursed a total of $143.58 million to finance 1,396 microenterprises.

The figures have been included in the MIDA 2016/17 annual report, which was tabled in the House of Representatives recently.

Through a revolving pool of resources generated primarily from the Government of Jamaica/Government of the Netherlands Loan Portfolio, MIDA provides financing to assist new and existing micro, small and medium-sized enterprises (MSMEs) in agriculture, manufacturing and services, among other sectors.

In terms of loan distribution by sectors, the report informs that the service sector in 2016/2017 received $122.17 million, or 87 per cent of total loans granted, compared to $120.52 million for the previous year.

The manufacturers accessed $6.10 million in loans when compared to $3.50 million for the previous year, an increase of $2.6 million.

The agricultural sector received $15.30 million or eight per cent of the total value of loans granted, compared to $13.17 million for the previous year, an increase of $2.13 million.

Since its inception in 1991, MIDA has disbursed $3.48 billion to the MSME sector and has recovered some $2.9 billion as of March 2017, the report outlines.

MIDA was established primarily to promote, encourage and facilitate the development of the MSME sector in Jamaica, as part of the Government’s strategy to create wealth and generate employment.