The Development Bank of Jamaica (DBJ) has launched an initiative aimed at addressing financial inclusion and literacy challenges within the local agriculture sector.

Backed by a $29-million investment, the Agricultural Sector Financial Literacy and Inclusion Capacity Building Programme seeks to target 450 farmers, agri-business owners and key stakeholders, equipping them with the financial skills and resources needed to thrive.

The initiative is being rolled out in partnership with the Ministry of Agriculture, Fisheries, and Mining, Jamaica Agricultural Society (JAS) and the Rural Agricultural Development Authority (RADA).

“Many of our farmers and agri-entrepreneurs, despite their hard work and innovation, face difficulties in securing the necessary funding to expand and modernise their businesses. This programme is designed to change that narrative by facilitating access to financing while also supporting platforms that increase agritech adoption, enhance productivity and yield management, and optimise the use of cash,” said Dr David Lowe, managing director of the DBJ, at the recent launch of the initiative.

The initiative, which represents a strategic collaboration between the ministry and key agencies, employs a two-pronged approach designed to build both individual and institutional capacity. Through the JAS, 50 agri-entrepreneurs will receive hands-on support to develop bankable business plans, enabling them to present strong, investment-ready proposals to financial institutions. At the same time, RADA will train 40 extension officers, who will in turn deliver financial literacy training to farmers and stakeholders across all parishes, ensuring the programme’s impact is far-reaching and sustainable.

Speaking at the launch, Minister of Agriculture, Fisheries, and Mining Floyd Green, emphasised the importance of the programme, particularly in light of ongoing financing barriers that farmers continue to face.

“Financial institutions need to be more responsive in how they assess and support agricultural enterprises. At the same time, our farmers must also rise to the challenge. And that’s why the Ministry of Agriculture, through RADA, has been actively working to shift mindsets and encourage a more business-oriented approach to farming,” he stated.

“This DBJ initiative significantly accelerates that mission. It strengthens our efforts by building a cadre of trained extension officers who can help farmers better manage their finances, develop investment-ready business plans and understand their overall performance. In doing so, we’re building capacity and we’re building confidence. This is how we move agriculture from subsistence to sustainability,” the minister added.

Beyond financial training, the initiative is designed to foster inclusion, especially among women and youth, who are often under-represented in agriculture. By targeting these groups, DBJ aims to future-proof the sector while promoting food security and economic resilience. The programme will also focus on enhancing farmers’ ability to manage their operations, monitor income and expenses while ensuring transparency in their transactions.

The launch of the programme largely underscores DBJ’s broader commitment to supporting Jamaica’s economic growth through targeted, strategic interventions. The national financial institution, as part of its ongoing role as Jamaica’s ‘business builder’ will, through this latest effort, continue its work in empowering local industries with the tools, financing, and ecosystem support needed to scale their businesses.

“This is more than just a training programme, it is about transforming agriculture from a way of life to a bankable business. It is about unlocking financing by building financial capacity from the ground up. Agriculture is not just an economic pillar of our economy, but it is also the heartbeat of the nation’s resilience. As such, I’m therefore committed to ensuring that our farmers and agribusinesses have the resources and financial access that they need to succeed,” Lowe said.