Jamaica Commended For Its Economic Initiatives At IDB

By: Derrick Scott

WASHINGTON, DC – Jamaica has come in for commendation for its economic initiatives, at the Inter American Development Bank’s sixth annual meeting of Governors of the Caribbean now taking place in Washington, DC.

The country was also hailed for the positive growth in GDP the country is experiencing, while other Caribbean Countries are experiencing economic challenges.

Jamaica’s State Minister in the Ministry of Finance and Planning the Hon. Faval Williams, who is representing Jamaica at the IDB meeting, said the the country’s economic achievements could not be achieved without the support of our multilateral partners, chief among them, the Inter-=American Development Bank, the IDB.

She pointed out that the IDB had partnered with Jamaica to implement a number of important projects, including tourism and port development.

During bilateral talks between Minister Williams and President of the Inter-American Development Bank, Luis Alberto Moreno, she urged the IDB to take another look Jamaica’s agricultural sector with a view to enabling small and medium enterprises (SME) to gain access to affordable financing, as this was critical to the growth and expansion of the agricultural sector.

Among the topics being  discussed over the three days include de risking and correspondent banking, the development outlook for the Caribbean, and the role of the private sector in the development of the Region’s economy.

The three day meeting will come to a close on Thursday, when Finance Ministers and Governors of the Central Banks of the Caribbean will attend the one hundred and fourteenth meeting of the Committee of the Board of Governors of the Inter American Development Bank, and the 45th meeting of the Committee of the Board of Governors of the Inter American Investment Corporation.

Minister Faval Williams is accompanied by Jamaica’s representative to the IDB, Mr. Arthur Williams.