US$100 million in loans from the Inter-American Development Bank will aid in Jamaica’s fight against Non-Communicable Diseases
The Government of Jamaica says the funding from the IDB will strengthen health policies that target NCD risk factors and treatment. These policies include providing higher quality care and improving access to public health networks, with an emphasis on chronic disease management.
Jamaica’s NCD prevention policy seeks to address two main challenges. The first is prevention of NCDs by addressing four preventable risk factors (tobacco use, excessive alcohol consumption, a sedentary lifestyle, and unhealthy dietary habits). The second is improving the quality of life and care for people living with NCDs. It also involves preventing premature NCD-related deaths.
Five years ago, the Government of Jamaica developed the National Strategic and Action Plan for the Prevention and Control of Non-Communicable Disease. It aims to reduce the burden of NCDs and injuries by 25% by 2025. The Government’s goals for this loan program are to reduce the public’s exposure to risk factors for NCDs; to provide increased capacity in health centers and hospitals to diagnose and treat NCD patients; and to reorient Jamaica’s health systems to address prevention and control of NCDs through consumer-oriented primary health care.
The hybrid loan includes two complementary elements: a US$50 million Programmatic Policy-Based (PBP) loan and a US$50 million investment loan. The PBP will fund the necessary regulations and policies to implement coherent and comprehensive health sector strategy. The investment loan will fund improvements in Jamaica’s primary care system and will improve the management, quality, and efficiency of Jamaica’s hospital and health service networks.
This hybrid program is the first of a programmatic policy-based loan series for Jamaica’s health sector, which will be made up of two contractually independent and technically linked loans. The Programmatic Policy-Based (PBP) loan is funded from the IDB’s Ordinary Capital, will disburse US$50 million within one year, with a grace period of 5.5 years, and an interest rate based on LIBOR. The executing agency for the PBP will be Jamaica’s Ministry of Finance and the Public Service (MOFPS). The IDB investment loan of US$50 million will be disbursed over a five-year period, with a grace period of 5.5 years, and an interest rate based on LIBOR. The executing agency for the investment loan will be Jamaica’s Ministry of Health (MOH).
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.