Jamaica’s public-private partnership framework received an honourable mention during the Financial Times’ Infrastructure Investment in Latin America and the Caribbean conference in New York, USA, on September 4, 2024.

During the panel discussion titled ‘How are multilateral organisations using debt funds to build the region’s infrastructure?’, Jane Jamieson, programme manager for Public-Private Infrastructure Advisory Facility at the World Bank, pointed to Jamaica as having a model public private partnership mechanism.

“They’ve been able to put the governance in place to really mobilise private finance,” she explained.

“Since 2000, they’ve managed to mobilise over US$3 billion in investment in infrastructure that has really transformed the transport network in the country,” Jamieson continued

The World Bank programme manager attributed this to the country’s strong regulatory framework supported by strong institutions.

She made special mention of Development Bank of Jamaica that “has the skills and the capacity to develop projects”.

Jamieson added that the Ministry of Finance has exercised oversight and fiscal management with very clear processes to ensure that projects are affordable for the country. In addition, she pointed out that the ministry has developed a pipeline of projects so that there’s predictability for investors.

Financial Times Editor – Latin America Michael Stott, in his closing remarks at the conference, again highlighted Jamaica as a example in the region of having a solid infrastructure investment framework.