The Development Bank of Jamaica (DBJ) has received another layer of financing for initiatives supporting the growth and resilience of Jamaican micro, small and medium-sized enterprises (MSMEs).

In a release, the DBJ announced that it has signed a €400,000 grant agreement with the Agence française de développement (AFD) to support DBJ-led initiatives targeting MSMEs.  This grant complements the US$5 million Credit Facility Agreement, signed in March 2025, in which DBJ and AFD provide financing for social and climate-related investments in key sectors such as agriculture, renewable energy, education, and health care.

This second layer of financing will fund a comprehensive Technical Assistance (TA) Programme aimed at strengthening DBJ’s institutional capacity and enhancing Jamaica’s broader financial ecosystem. As such, it forms part of DBJ’s ongoing efforts to expand access to financing for Jamaican MSMEs while fostering long-term sustainability, resilience and competitiveness within the sector.

Specifically, the programme will focus on building the capacity of the DBJ, its network of approved financial institutions (AFIs), microfinance institutions (MFIs) and MSME clients. Moreover, it will enable more efficient delivery of financial solutions and improve access to credit for the MSME sector.

Additionally, the technical assistance programme will enhance DBJ’s internal systems, processes, and monitoring frameworks. This will strengthen project oversight, improve alignment with the Sustainable Development Goals (SDGs), and enable more measurement and reporting of development outcomes that are effective.

“Our MSMEs, whether they are farmers adapting to climate change, businesses transitioning to renewable energy, or service providers expanding into underserved communities, must be at the centre of Jamaica’s sustainable transformation,” said Dr David Lowe, managing director of the DBJ.

“With the support of AFD and the Government of France, this partnership ensures that our MSMEs are not just participants, but key drivers of Jamaica’s inclusive and resilient growth,” he added

Access to financing continues to be one of the most persistent barriers for MSMEs in Jamaica, compounded by challenges in managing operational risks and achieving sustainable growth. Given that MSMEs account for more than 60% of Jamaica’s employment and nearly half of all entrepreneurial activity, building a robust support system for this sector is essential to the country’s economic development and alignment with national and global sustainability goals.

To this end, AFD, France’s public development bank, is committed to financing and supporting projects that reduce poverty, advance sustainable development, and combat climate change. AFD collaborates with governments, development banks, and organisations around the world to achieve these goals.

“AFD is proud to support the DBJ in this vital program for Jamaica‘s economic growth. MSMEs are the backbone of the economy across all sectors and play a crucial role as job creators,” stated Marc Dubernet, AFD’s regional director in the Atlantic Ocean.

“This grant from the French Government will enable the DBJ to develop a robust strategy and projects aligned with the SDGs, while also providing specific support to empower female entrepreneurship,” he continued.

This agreement underscores DBJ’s commitment to facilitating the growth and development of viable enterprises across Jamaica’s productive sectors, while reinforcing the country’s transition to a more sustainable and inclusive economy.