WASHINGTON — The Board of Executive Directors of the Inter-American Development Bank (IDB) approved a loan of up to US$70 million to advance Jamaica’s ongoing public-sector transformation program. The initiative aims to make public administration more efficient and effective, improving services for both citizens and public servants.
The program, financed by the IDB, will enhance the management of human, financial, and organizational resources by strengthening core government functions, streamlining institutional structures, and modernizing civil service systems.
Financing will support measures such as implementing shared corporate across government, rationalizing public bodies, and modernizing civil service management systems and processes. These actions are designed to reduce duplication, improve coordination, and strengthen human resource practices.
These reforms are expected to improve coordination, increase effectiveness, and lower costs across government operations. By optimizing procurement, payroll, and financial management processes, the program will help Jamaica use public resources more efficiently and improve policy coordination.
The loan, under the Specific Investment Loan modality, has a repayment term of 23.5 years, a grace period of seven years, and an interest rate based on SOFR. The total financing for the program amounts to US$78.5 million, including US$8.5 million in local counterpart funding.
About the IDB
The Inter-American Development Bank (IDB), a member of the IDB Group, is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the Bank works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise, and knowledge, it promotes growth and well-being in 26 countries. Visit our website: https://www.iadb.org/en.
Recalde Rosero,Cristina
