The Jamaica Money Market Brokers (JMMB) Group, which operates a financial conglomerate, will consider obtaining a $15.5 billion loan from the International Development Bank Invest to fund its on-lending activities to underserved groups.
The decision to take the loan has not yet been reached but the negotiations are at a stage requiring disclosure.
In a statement to the Jamaica Stock Exchange, JMMB said the completion of the transaction is contingent on various factors, including, but not limited to, market conditions, authorisations and approvals, and the satisfaction of customary closing conditions.
The funding facility would go towards growing client loans, which stood at $200.2 billion to September 2023, up from $161.4 billion from the previous year.
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