DBJ to Provide $9.5Bn In Loans To MSMEs & Divest Government-Owned Assets

• The Development Bank of Jamaica (DBJ) is anticipating the provision of $9.5Bn in loans to Micro, Small and Medium-sized Enterprises (MSME) during the new financial year. 
• This is in addition to $6.24Bn in credit guarantees, US$24.4Mn in equity financing, and capacity-building support to 440 entities. 
• As contained in the Public Bodies Estimates of Revenue and Expenditure for the year ending March 2023, the support from the DBJ is aimed at addressing the gaps in the MSME ecosystem, which hamper growth in the industry, by improving the entities’ access to business development and financing. 
• Following the Wigton and TJH IPOs in recent years, the DBJ will also continue to assist in the divestment of government-owned assets, by facilitating investment through public-private partnerships and privatisations. 
• In keeping with this imperative, the agency intends to bring closure to transactions including Jamaica Mortgage Bank, Jamaica Railway Corporation, Montpelier, and the Cocoa Industry Board. We could therefore see more opportunities for investors through the privatisation of these companies, as the Government of Jamaica aims to put the ownership of key strategic assets in the hands of Jamaicans.

(Source: JIS & NCBCM Research)