Dr. David Lowe, Managing Director of the Development Bank of Jamaica (DBJ) - JIS photo
The Development Bank of Jamaica (DBJ) is developing new strategies to become more directly involved in how its loan funds reach micro, small and medium-sized enterprises.
Speaking on Power 106 FM's Real Business on Monday morning, DBJ Managing Director Dr. David Lowe said the institution is innovating, particularly around its $10 billion M5 Business Recovery Programme to ensure that MSMEs can more easily access financing.
Dr. Lowe explained that while the DBJ provides funds to approved financial institutions, including commercial banks, merchant banks and credit unions, it has limited control over how those institutions onlend the money to MSME clients.
Under the billion M5 programme, $3 billion will be available over three years to support MSME cash flow needs, while another $7 billion will go toward rehabilitating damaged plant, machinery and other infrastructure following Hurricane Melissa.
Dr. Lowe says improving the flow of these funds to MSMEs is critical to accelerating national recovery.
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