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Jamaica is to receive a major loan from the Inter-American Development Bank, the (IDB).
Prime Minister Bruce Golding has ended his trip to Washington D.C with a commitment from the IDB for a US$50 million or J$3.6 billion infrastructure and rehabilitation loan.
According to a statement from Jamaica House, the money will enable the government to undertake critical repairs of infrastructural damage caused by Tropical Storm Gustav in August.
Finance Minister Audley Shaw will sign the loan agreement in Washington in a few weeks.
The IDB loan was agreed on when Prime Minister Golding met on Monday with Luis Alberto Moreno, the IDB President.
More money to come
There is also more new good news coming from the IDB.
The bank has given a commitment to provide more money to Jamaica over the next three years.
Mr. Golding said the IDB will be seeking lending approvals of between US$100 and US$200 million annually over the period.
However, this will be dependent on the pace at which Jamaica implements policy reform in the areas of taxation, the public sector as well as private sector development.
http://www.radiojamaica.com/content/view/12047/26/
Prime Minister Bruce Golding has ended his trip to Washington D.C with a commitment from the IDB for a US$50 million or J$3.6 billion infrastructure and rehabilitation loan.
According to a statement from Jamaica House, the money will enable the government to undertake critical repairs of infrastructural damage caused by Tropical Storm Gustav in August.
Finance Minister Audley Shaw will sign the loan agreement in Washington in a few weeks.
The IDB loan was agreed on when Prime Minister Golding met on Monday with Luis Alberto Moreno, the IDB President.
More money to come
There is also more new good news coming from the IDB.
The bank has given a commitment to provide more money to Jamaica over the next three years.
Mr. Golding said the IDB will be seeking lending approvals of between US$100 and US$200 million annually over the period.
However, this will be dependent on the pace at which Jamaica implements policy reform in the areas of taxation, the public sector as well as private sector development.
http://www.radiojamaica.com/content/view/12047/26/
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