HEART/NTA provides $14.23m in grant funding to MSMEs
KINGSTON, Jamaica (JIS) — The HEART Trust/NTA is providing $14.23 million in grant funding to six micro, small and medium enterprises (MSMEs).
The funds, for the acquisition of equipment, technologies, capacity-building services and technical assistance, are being facilitated through the agency’s ‘general MSME support’ component of the MSME programme, which was launched yesterday at The Knutsford Court Hotel, New Kingston.
The six beneficiaries are ProSource, Jamaica Transport Services, Zinergy International, Honey Vera, Frazer’s Ceramics, and Eco Farms/Environmed.
Minister of Education, Youth and Information, Senator Ruel Reid, in his address at the launch, said the programme will promote employment and wealth creation, while increasing access to capital.
“Through its MSME programme, the Heart Trust is demonstrating its commitment to national development in keeping with its vision of having a Jamaican workforce trained and certified to international standards,” Reid said.
The MSME programme is designed to increase the productivity and competitiveness of businesses; boost employment and wealth creation; enhance the quality and quantity of exports; and increase the sustainability of MSMEs through training and capacity development.
Funding under the programme is only to be used to finance direct expenses, including acquisition of equipment, machinery, technology and software; development of new market access; expanding existing market linkages; capacity building through technical training; and business advisory services.
Executive Director of the HEART Trust/NTA, Dr. Wayne Wesley, informed that beneficiaries under the General MSME Support can access up to $3 million for initiatives to improve their productivity, competitiveness, and build their capacity.
Capacity and business development support will be provided through the Jamaica Business Development Cooperation (JBDC), for which a Memorandum of Understanding (MoU) was signed at the launch.
“To benefit from this award, the MSME must be registered with the Companies Office of Jamaica, be tax compliant, be willing to accept HEART Trust/NTA graduates for internship or apprenticeship and have export or growth potential to boost employment,” Dr. Wesley said.
