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Joint communiqué from the Government of Jamaica and IDB

During the Second Annual Meeting of the Caribbean Governors of the Inter-American Development Bank, IDB President Luis Alberto Moreno met in Kingston today with the Rt. Hon. Prime Minister of Jamaica Portia Simpson Miller and Finance Minister Dr. The Hon. Peter Phillips to discuss strategies to advance Jamaica’s economic and social agenda.

As a member of the IDB since 1962, Jamaica has long valued the Bank’s contributions in the form of loans, grants, and technical assistance to address major development challenges. Jamaica is fully committed to serving as an active and engaged member of the IDB. Jamaica’s membership in the Bank has also provided access to valuable programs and unique perspectives.

Since the onset of the international financial and economic downturn in 2008, the IDB has provided US$1.6 billion in loans and US$24.5 million in grants to Jamaica as part of a coordinated, multilateral support program for macroeconomic stabilization. The IDB’s operational strategy with Jamaica seeks to support Government’s efforts to maintain a stable macroeconomic context, protect vulnerable groups and spur private sector led growth. The current portfolio includes projects in the areas of protection of vulnerable groups, fiscal consolidation, energy conservation, private sector development, citizen security, water and sanitation, and transportation. The Bank also has provided Jamaica with technical assistance grants for disaster risk management.

The IDB and the Government of Jamaica are committed to working together, in concert with other development partners, to restore economic growth and advance efforts to achieve Jamaica’s national development goals.

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