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MSMEs To Benefit From Bank Guarantees

Micro, small and medium-sized enterprises (MSMEs) are to benefit from the issuance of 86 bank guarantees during the upcoming financial year.

This is being facilitated through the Credit Enhancement Programme with a $440-million allotment in the 2021/22 Estimates of Expenditure, now before the House of Representatives.

The Credit Enhancement Programme seeks to promote productive investments in MSMEs in Jamaica by enhancing their access to financing, particularly medium and long-term loans.

Up to December 2020 under the project, 289 bank guarantees were issued to MSMEs.

The project, which is slated to run from September 2017 to September 2022, is being implemented by the Development Bank of Jamaica (DBJ), with funding from the Inter-American Development Bank (IDB).

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