Ex-Im Bank Provides Record $9.4bn in SME Loans

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The Export-Import Bank of Jamaic has provided a record $9.4-billion in loans to Small and Medium size Enterprises.

In a statement yesterday, the EXIM Bank says the figure surpassed its target of $7.3-billion in 2018. That’s a 29-per cent increase. The EXIM Bank says the loan utilization was achieved through targeted funding to SMEs via the Bank’s Mega Loan Sale which offered rates as low as 4-point-5 per cent to beneficiaries.

The utilization of the $9.4-billion was spread across all industries with manufacturing receiving the highest number of loans at 39-per cent.

This is followed by Distribution and Services at 23-per cent and Mining at 14-per cent.

The EXIM Bank says it will continue its commitment to facilitating growth in all industries of the productive sector and aims to provide new opportunities for 2019/2020.

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