Banks Now Lending for Productive Enterprise

Prime Minister Andrew Holness, says Jamaica’s economic climate is so positive that banks are once again lending money for productive enterprises.

Mr. Holness says it’s indeed a good sign for the country’s economic future, and that the government sees it as a strong vote of confidence for the policies that are in place.

He made the declaration while delivering the keynote address at the official opening of the G-West Medical Centre in Fairview, Montego Bay, last week.

The Prime Minister says data is showing that loans for productive enterprises are increasing, not just for consumption but for productive enterprises; a very good sign for growth.

Mr. Holness says he was very pleased that the National Commercial Bank (NCB) and its Capital Market venture saw it fit to finance a company like GWest to realise its dream of building an expansive one-stop-shop medical facility in Montego Bay.

The Prime Minister said that it was also a vote of confidence in the economic direction that banks are now willing to look at investments and calculate the risk and absorb them in their portfolio, and actually lend; Adding that it was not that long ago when the criticism was that banks were reluctant to lend money to high-risk investments, preferring to offer loans to businesses that were deemed “riskless”.

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