Development Bank of Jamaica targets raise in loans to SMEs

The Development Bank of Jamaica has targeted loans of JMD7.39 billion to micro, small and medium-sized enterprises during the 2020/21 fiscal year - up JMD$2.71 billion from the previous year.

The loans are in addition to technical assistance, grants, and collateral support by the bank to MSMEs. The DBJ will also be promoting growth among MSMEs and business start-ups under the US$50 million Inter-American Development Bank-funded Boosting Innovation in Growth and Entrepreneurship Ecosystems project, which is slated to be launched this year.