The Government has signed off on a USD$248-million loan from the Inter-American Development Bank, IDB.

The loan is to support three key initiatives. An amount of USD$160-million has been earmarked for Public Sector Transformation. Sixty-eight million US is to be allocated to the National Identification System, NIDS. The remaining $20-million is designated to boost technology for national security.

Finance Minister Audley Shaw, and IDB President, Luis Alberto Moreno, signed the agreement yesterday at the Pegasus Hotel in New Kingston. The signing coincided with the seventh annual IDB Caribbean Governors’ Conference.

Mr. Shaw says the public-sector transformation programme is very important to the administration’s push for efficiency in government. He notes that 84 state entities are being targeted for closure, divestment, mergers or incorporation back into Central Government over the next three years.

And, Prime Minister Andrew Holness also addressed the IDB loan signing ceremony. He says the loan, and in particular, the NIDS programme is part of a general push to digitize Jamaica’s economy.

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