IDB approves US$70 million loan for Jamaica’s ongoing public sector transformation
/ Our Today
administrator
The Inter-American Development Bank (IDB) board of executive directors has approved a US$70 million loan to advance Jamaica’s ongoing public sector transformation programme.
The initiative aims to make public administration more efficient and effective, improving services for both citizens and public servants. The programme, financed by the IDB, will enhance the management of human, financial, and organisational resources by strengthening core government functions, streamlining institutional structures, and modernising civil service systems.
Financing will support measures such as implementing shared corporate services across government, rationalising public bodies, and modernising civil service management systems and processes. These actions are designed to reduce duplication, improve coordination, and strengthen human resource practices.
These reforms are expected to improve coordination, increase effectiveness, and lower costs across government operations. By optimising procurement, payroll, and financial management processes, the program will help Jamaica use public resources more efficiently and improve policy coordination.
The loan, under the specific investment loan modality, has a repayment term of 23.5 years, a grace period of seven years, and an interest rate based on SOFR. The total financing for the program amounts to US$78.5 million, including US$8.5 million in local counterpart funding.
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