$100-m loan fund for farmers
THE Development Bank of Jamaica (DBJ) yesterday announced a special emergency loan fund of $100 million to assist farmers who were affected by last Sunday’s passage of Hurricane Dean.
“Jamaica’s agricultural sector is of vital importance to the economy and being cognizant of this, the Development Bank is making this pool of funds available through the 40 branches of the National People’s Cooperative Bank islandwide. The objective is to ensure that the country’s farming sector receives as much help and assistance as possible so that it can be restored within the shortest possible period,” said Milverton Reynolds, managing director of the Development Bank of Jamaica.
“Loans under this special funding will attract an interest rate of 7.8 per cent per annum on the reducing balance at the National PC Bank.,” Reynolds said.
