#finance · 1 year ago

Development Bank of Ja Ltd

The Development Bank of Jamaica (DBJ) is a wholly-owned government institution that provides opportunities to all Jamaicans to improve their quality of life through development financing, capacity building, public-private partnership, and privatisation solutions in keeping with government policy. In April 2000, a merger of two national development entities, the Agricultural Credit Bank Limited and the National Development Bank, resulted in the establishment of the DBJ. Later in 2006, the National Investment Bank of Jamaica Limited was further amalgamated into the DBJ. At the DBJ, we provide funding and technical assistance to large projects. We have also expanded and improved our support to include micro, small and medium-sized enterprises (MSME). MSMEs are widely recognised as the engine of economic growth and development, especially in small economies. While we do not lend funds directly to individuals, we channel aid through a network of Approved Financial Institutions (AFI), such as commercial and merchant banks. Our network comprises the Jamaica Credit Union League, the National People's Cooperative Bank (NPCB), the National Export-Import Bank, and Micro Finance Institutions (MFI). They provide the initial credit evaluation and loan supervision before on-lending to clients. The relationships with AFI and MFI are critical to the work of the DBJ as, through these institutions and their island-wide network of branches, our lines of credit are easily accessible.

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