The Development Bank of Jamaica (DBJ) is poised to roll out a new strategic initiative aimed at boosting the productivity, scalability, and market readiness of micro, small and medium-sized enterprises (MSMEs).

Just weeks ahead of the roll-out, the DBJ hosted a stakeholder consultation session with its network of Approved Financial Institutions (AFIs) to share and discuss details.  

A key component of the initiative is that it prioritises MSMEs in sectors such as agriculture, manufacturing, health, and the Creative Industries. The specialised financial solution will support business growth through loans of up to J$30 million per MSME at a preferential interest rate, along with flexible repayment terms, blended financing, technical assistance, and grant support.

“This new facility is not merely a financing tool; it is a strategic instrument designed to enhance the competitiveness and resilience of Jamaica’s productive sector, empowering our MSMEs to operate at world-class standards,” explained Dr David Lowe, managing director of the DBJ.

“With the active collaboration of our AFIs, we can extend these opportunities to entrepreneurs and enterprises across the island, ensuring the programme’s benefits are both transformative and enduring. DBJ remains committed to pioneering innovative financing solutions that anticipate the needs of our business community and drive sustainable national growth.”

The initiative combines competitive financing with capacity building, thus equipping Jamaican businesses with the tools and resources they need to compete successfully in local and global markets.

DBJ underscored the importance of AFI participation to the successful rollout of the programme, noting that they will ensure financing opportunities reach businesses across Jamaica.