IDB Official Affirms BIGEE’s Role in Driving MSME Growth Across Jamaica

• Inter-American Development Bank (IDB) Chief of Operations for the Caribbean Region, Karisa Ribeiro, says the Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) Programme remains instrumental in driving the expansion of several micro, small, and medium-sized enterprises (MSMEs) across Jamaica.
• During the Ministry of Industry, Investment and Commerce MSME Linkages Day event at the University of Technology (UTech) in St. Andrew, Ms. Ribeiro provided an update on the programme noting that over 1,400 MSMEs and 50 ecosystem institutions have received direct assistance, to date, under the programme; the beneficiary MSMEs recorded an average of 20 per cent increase in sales.
• Ribeiro said coordinated policies, targeted support, and sustained investment are vital to unlocking the MSME sector’s full potential and driving inclusive economic growth. A flagship initiative of the Development Bank of Jamaica (DBJ), BIGEE is aimed at empowering MSMEs and promoting innovation in Jamaica.
• The five-year programme, which commenced in September 2020, is funded through a US$25.0Mn IDB loan and a US$8.2Mn grant from the European Union (EU). It is intended to strengthen Jamaica’s entrepreneurial ecosystem and support MSMEs through funding, technical assistance, and mentorship.
• She further emphasised that beyond the BIGEE Programme, the IDB Group remains committed to fostering an enabling environment that equips businesses of all sizes with the tools they need to thrive.

(Source: JIS)