National Commercial Bank of Jamaica says it has doubled the size of its SME Growth Fund to $2 billion from the $1 billion initially allocated.
The move is aimed at supporting small and medium-sized businesses in the wake of the 7.1% contraction in economic activity because of Hurricane Melissa in the final quarter of this year.
The bank says applications for the expanded facility opened April 16, noting that the additional funding is intended to help businesses stabilise operations, improve productivity and drive sustained growth.
Meanwhile, Aubyn Hill is urging the bank to go even further. The Industry, Investment and Commerce Minister is calling for the fund to be increased to $5 billion to better support the sector in acquiring new technologies and boosting productivity.
comments powered by Disqus
.jpg){kind=logo}
All feeds
