DBJ expands M5 Recovery Programme as business financing passes J$2 billion
Key Points(5)
- The expansion comes as the programme adds five new financial institution partners, increasing its banking network to nine and widening access to recovery financing for businesses across Jamaica.
- Strong uptake drives expansion DBJ said the programme’s growth reflects both strong demand from businesses and confidence from financial institutions in the structure of the initiative, which is designed to support recovery, rebuilding, and long-term business resilience.
- Since its launch, the M5 programme has approved more than J$2 billion in financing, with roughly J$846 million already disbursed to 66 businesses operating in sectors including agriculture, hospitality, distribution, and transportation.
- Officials say the funding has allowed entrepreneurs to restore operations, protect jobs, replace damaged assets, and regain stability following Hurricane Melissa.
- New banking partners join network The expanded programme now includes participation from JMMB Bank, Barita Merchant Bank Limited, VM Building Society, VM Investments Limited, and National Commercial Bank, joining the existing DBJ partner network.
The Development Bank of Jamaica (DBJ) has expanded its M5 Business Recovery Programme following more than J$2 billion in approved financing for businesses recovering from the impact of Hurricane Melissa, marking a significant scale-up of one of the country’s key post-disaster economic support initiatives.
The expansion comes as the programme adds five new financial institution partners, increasing its banking network to nine and widening access to recovery financing for businesses across Jamaica.
DBJ said the programme’s growth reflects both strong demand from businesses and confidence from financial institutions in the structure of the initiative, which is designed to support recovery, rebuilding, and long-term business resilience.
Since its launch, the M5 programme has approved more than J$2 billion in financing, with roughly J$846 million already disbursed to 66 businesses operating in sectors including agriculture, hospitality, distribution, and transportation.
Officials say the funding has allowed entrepreneurs to restore operations, protect jobs, replace damaged assets, and regain stability following Hurricane Melissa.
The expanded programme now includes participation from JMMB Bank, Barita Merchant Bank Limited, VM Building Society, VM Investments Limited, and National Commercial Bank, joining the existing DBJ partner network.
According to the development bank, the broader partnership is expected to extend the programme’s geographic reach, strengthen access across key productive sectors, and increase opportunities for a wider range of small and medium-sized enterprises (SMEs) to access recovery financing.
The additional institutions also expand the programme’s branch network across Jamaica, improving accessibility for businesses in both urban and rural areas.
Financing tools and risk-sharing model
A central feature of the M5 programme is its Credit Enhancement Facility (CEF), which helps reduce lending risk for participating financial institutions. By providing collateral support, the facility enables businesses that may not meet traditional lending requirements to still qualify for financing.
DBJ said this approach has been critical in unlocking credit for viable businesses that would otherwise struggle to access capital due to collateral constraints.
The M5 programme is also supported by the ORBIT Loan Programme, another DBJ initiative that has approved J$1.82 billion in financing, with nearly J$971 million disbursed to 52 businesses across the same financial institution network.
Speaking at a recent signing ceremony, DBJ Managing Director Dr. David Lowe said the expansion reflects the effectiveness of the programme’s structure and the value of public-private collaboration in economic recovery.
He said the risk-sharing model has helped strengthen confidence among lenders while ensuring that businesses can access the financing needed to rebuild and grow.
The DBJ also highlighted two programme beneficiaries who credited the initiative with helping them recover and stabilize operations following the hurricane.
HMH Farms operator Hjort Henry said the financing arrived at a critical moment, allowing the business to maintain operations and protect employment.
Bayguide Transport Limited’s Malik Elliott said the support enabled his company to resume services and rebuild with greater stability, noting that the programme provided a pathway to recovery during a difficult period.
DBJ said the expansion of the M5 network comes amid growing recognition of the need for stronger financial resilience mechanisms as climate-related disasters become more frequent and severe in the Caribbean.
By increasing access to credit and strengthening partnerships with financial institutions, the bank says it is working to build a more responsive recovery framework that supports both immediate business needs and long-term economic growth.
The expanded programme is expected to continue rolling out financing support across multiple sectors as Jamaica strengthens its disaster recovery and business continuity strategies.
