Tourism Minister Edmund Bartlett
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Edmund Bartlett
Jamaica EXIM Bank disbursed more than $2 billion in loans to more than 90 tourism related businesses over the last three years.
In his contribution to the Sectoral Debate in Parliament earlier this week, Tourism Minister Edmund Bartlett said this was supported by a billion-dollar injection from the government.
"The result is that some $2.2 billion of loans have been dispersed to over 91 companies, small companies who are in the tourism industry," he announced.
"Some of them have graduated and these are people who normally wouldn't be able to do it because what we provided was a loan arrangement for $25 million max, to be paid over five years...and the lowest interest rate possible of 4.5 per cent. And in that way what we're saying to the small players [is], you have a chance," said Minister Bartlett.
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