25 Transactions Completed Under Public-Private Partnership Programme

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The Development Bank of Jamaica (DBJ) has successfully completed 25 transactions under the Government’s Public-Private Partnership and Privatisation Programme since 2009.

This facilitated over USD$1-billion in investments. DBJ Managing Director, Milverton Reynolds says, the amount includes over USD$300-million in sales and more than USD$800-million in private-sector capital investments.

Mr. Reynolds says notable among the portfolio of the programme is the privatisation of the Norman Manley International Airport in Kingston. He also highlighted the privatisation of the Kingston Container Terminal and Wigton Wind Farm which was massively oversubscribed.

More than 31,000 persons responded to the initial public offering, IPO, of Wigton shares through the Jamaica Stock Exchange which raised the targeted $5.5-billion. He says this represents the largest IPO in the Exchange’s history.

Meanwhile, Mr. Reynolds advised that the DBJ is working on several additional projects. These include the National Education Trust Schools Solar Project, the Rio Cobre Water Treatment Plant Project and the divestment of the Government’s shares in the Jamaica Public Service Company, among others.

Mr. Reynolds was speaking during a regional market sounding forum at the DBJ’s Private Equity and Infrastructure Development Conference at The Jamaica Pegasus hotel, New Kingston recently.

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