DBJ Targeting 220 Businesses to Boost Investment by $26bn

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The Development Bank of Jamaica (DBJ) programmed initiatives for 2019/20 are projected to facilitate investments totalling over $26-billion and engagements targeting 220 new companies.

As stated in the 2019/20 Jamaica Public Bodies Estimates of Revenue and Expenditure, the entity’s activities are expected to yield loan disbursements totalling nearly $8-billion, as against almost $4-billion for the just-concluded financial year.

Engagements being embarked on during 2019/20 are consistent with the DBJ’s continued focus on aligning its activities with the Government’s economic growth targets. The entity will focus on three main pillars in executing its mandate. Emphasis will be placed on developing an entrepreneurial ecosystem, correcting market failures in the financial sector, divesting government assets, and facilitating public-private partnerships.

The DBJ will, in 2019/20, specifically seek to improve the number of loans provided to the micro, small and medium-sized enterprises (MSMEs) by providing financial and non-financial products, and policy advocacy. The DBJ forecasts a net operational surplus of 412 million, nearly doubling the 238 million generated in 2018/19. Additionally, the entity plans to increase its staff complement by six persons to 133.

The DBJ provides financing, privatisation services and technical support solutions to the Government and businesses, as it seeks to fulfil its mandate to facilitate and promote economic growth and development.

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