DBJ to issue 64 bank guarantees to SMEs

Thursday, February 22, 2018

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KINGSTON, Jamaica (JIS) — The Development Bank of Jamaica (DBJ) will be issuing 64 bank guarantees to small and medium-sized enterprises (SMEs) in the upcoming fiscal year.

This exercise is to be carried out under the Inter-American Development Bank (IDB)-funded Credit Enhancement Programme.

A sum of $250 million has been set aside in the 2018/19 Estimates of Expenditure for this purpose.

The project, which is slated to run from September 2017 to September 2022, aims to promote productive investments in micro, small and medium-sized enterprises (MSMEs) in Jamaica by enhancing their access to financing, particularly medium- and long-term loans.

The Estimates was tabled in the House of Representatives on February 15 by Minister of Finance and the Public Service, Audley Shaw.

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