World Bank Approves US$70 Million to Support Jamaica’s Fiscal Sustainability and Resilience

• The World Bank Board of Executive Directors approved today US$70 million in budget support financing to Jamaica to support the country’s reform program and efforts to strengthen and accelerate recent gains in fiscal consolidation and sustainable growth.
• The First Economic Resilience Development Policy Loan (ERDPL I) aims to help Jamaica advance its economic reform agenda, while at the same time protecting the poor and vulnerable, including from natural disaster risks.
• “Jamaica’s authorities have shown the commitment needed to maintain macroeconomic stability and demonstrated significant progress, including major reduction in public debt,” said Ozan Sevimli, World Bank Resident Representative for Jamaica. “These efforts will contribute to strengthening the country’s capacity to cope with the threats of natural disasters and public health crises.”

(Source: World Bank)