KINGSTON, Jamaica— Effective April 1, 2024, every successful graduate of a level 4 trade programme at HEART/NSTA Trust will receive a grant of $50,000 to assist them in acquiring the tools of their trade.

For graduates who are on PATH or are wards of the State, the grant will be increased to $75,000.

This was announced on Thursday by Prime Minister Andrew Holness during his contribution to the 2024/25 Budget Debate at Gordon House.

The prime minister said this will also assist graduates in getting to the next stage of their career, and is in addition to the removal of tuition fees for all programmes offered by the HEART/NSTA Trust up to level 4 that was previously announced by the Government.

Additionally, starting next financial year, the HEART/ NSTA Trust will open a special grant facility of up to $100,000 for HEART-certified trainees who have registered a trade or business that has been operating for more than one year. The beneficiaries will also be assisted in refining their business plan, executing marketing activities, further capacity building and other forms of technical support, the prime minister said.

He also announced that the Development Bank of Jamaica (DBJ) has introduced the Tradesperson Ownership Opportunity Loan (TOOL) Programme, which will be launched in June. Under the initiative, loans will be offered to small contractors through DBJ partner institutions at an interest rate of 9 per cent, for up to 24 months and will provide up to $500,000 per applicant to assist with acquiring or upgrading their tools.

“These grants and technical assistance are a deliberate effort to provide our trainees and small businesses with meaningful support to increase their productivity and grow their businesses,” Holness said.

Meanwhile, he said the HEART/NSTA Trust will launch the Skills on Demand portal which will connect skilled professionals with potential employers and clients.

“If you need a plumber to fix a leak at your house, you will be able to go on the Skills on Demand portal and identify plumbing professionals who have registered and have verified certification from HEART. Skilled professionals will be able to advertise their skills, their previous employer ratings, and their current location to potential employers and clients. Potential employers and clients will benefit from access to an array of talent that has been vetted and they will have the ability to post specific job openings to individuals with the required skills,” Holness said.