DBJ to provide $9.5 billion in loans to MSMEs | News

0

The Development Bank of Jamaica (DBJ) plans to provide $9.5 billion in loans to micro, small and medium-sized enterprises (MSMEs) in the new fiscal year.

This is in addition to $6.24 billion in credit guarantees, $24.4 million in equity financing and capacity building support for 440 entities.

As indicated in the Government Agencies Revenue and Expenditure Estimates for the year ending March 2023, DBJ support aims to address gaps in the MSME ecosystem, which are hampering the growth of the sector, by improving the access of entities to business development. and funding.

As stated in the document, the DBJ will continue to provide support / funding under the $ 5 billion program for social and economic recovery and vaccines (SERVE Jamaica) to various sectors via digital technical assistance and facilities investment capital for SMEs.

The DBJ will also provide assistance with the disposal of state-owned assets, facilitating investments through public-private partnerships and privatizations.

Consistent with this imperative, the agency intends to close transactions including the Jamaica Mortgage Bank, the Jamaica Railway Corporation, Montpelier and the Cocoa Industry Board.

-JIS News

Follow The Gleaner on Twitter and Instagram @JamaicaGleaner and on Facebook @GleanerJamaica. Message us on WhatsApp at 1-876-499-0169 or email us at [email protected] or [email protected]

Share.

Comments are closed.