Jamaica to benefit from IDB funding

The Inter-American Development Bank (IDB) is providing US$248 million in additional loan support for three government initiatives in Jamaica.

Jamaican authorities said the Washington-based financial institution is providing US$160 million for the Public Sector Transformation Project; US$68 million for the National Identification System (NIDS); and US$20 million to further boost national security technology inputs.

Agreement signed

Finance and the Public Service Minister, Audley Shaw, and IDB President, Luis Alberto Moreno, signed the agreements at a ceremony that coincided with the seventh annual IDB Caribbean Governors’ Conference, which ended in Kingston on Tuesday.

Shaw, who emphasized the importance of the public-sector transformation program, reiterated that 84 State entities are being targeted for closure, divestment, merging or subsuming back into Central Government over the next three years.

Shaw, noting that the NIDS implementation is “absolutely important” for Jamaica, said the concept is similar to what obtains in the United States where “everybody born gets a social security card… and that is (the) main instrument that identifies you from birth.

I would like to suggest that the backing of the IDB for the promulgation of the NIDS is, I think, ultimate proof of the efficacy of this program,” he added.

Regarding the provision for national security, Shaw said “we simply need to bring more technology into the business of crime-fighting”, in order to strengthen public safety and citizen security.

Moreno said the IDB’s latest support forms part of the financial institution’s commitment to assist Jamaica to embark on the engagements that will yield higher levels of growth and development.

The seventh annual Caribbean Governors’ Meeting was hosted by the Bank of Jamaica (BOJ) under the theme “Jump Caribbean” and focused on helping the region to embrace the digital revolution as a developmental tool.