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JSIF invests over J$1b since January

Monday, October 08, 2012 | 10:42 AM    

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KINGSTON, Jamaica- Since the start of 2012, the Jamaica Social Investment Fund (JSIF) has invested almost one billion dollars in community infrastructure, including schools, improving access to basic services for underserved communities.

The infrastructure includes roads and drainage systems, community spaces, sanitation, water and a bridge. These have directly impacting more than 40, 000 Jamaicans.

The data was shared at the 16th annual general meeting of the Fund on October 3.

In fiscal year 2011/2012 the fund managed a portfolio of US$108.759 million comprising loans (69 per cent) and grants (26 per cent), Government of Jamaica (GOJ) funding (five per cent) with community contribution from benefitting communities accounting for less than one per cent.  

This year the GOJ disbursed J$453.6 million to support the work of the JSIF in community development.

The International Bank for Reconstruction and Development (IBRD) continues to be the single biggest contributor of development funding to the JSIF accounting for 58 per cent of the overall current portfolio. 

Significant investments are also made by the European Union (EU), (14 per cent), the Caribbean Development Bank (CDB) and the Canadian International Development Agency (CIDA) at 23 per cent, the Government of Japan (three per cent), and the Republic of Venezuela (three per cent).  

Meanwhile, just under 57,000 Jamaicans benefitted from the completion and delivery of 62 sub-projects, spanning urban access and agricultural feeder roads, community multipurpose facilities, community health centres, basic, primary and all age schools, emergency response equipment and summer camps, JSIF said. 

According to JSIF managing director Scarlette  Gillings, the theme of empowerment was remained uppermost in activities, as “we moved to provide basic services as well as facilitate the participation of community members in the development process itself.”

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