EU Grant of €9.5M to Empower Nearly 3,000 MSMEs

• Approximately 3,000 micro, small and medium-sized enterprises (MSMEs) are poised to benefit from a share of some €9.5Mn in grant-funding support from the European Union (EU). The funds are being provided under the EU’s Digital Transitioning Programme in Jamaica, which was launched in 2023 and aims to increase information and communications technology (ICT) access and use by MSMEs islandwide. This is in keeping with the Government’s ongoing thrust to transition the country to a digital economy.
• Speaking during the official opening of the Jamaica Business Development Corporation (JBDC) Manchester Business Centre in Mandeville recently, Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, said approximately €1.7Mn of the EU grant is earmarked for the JBDC. He indicated that the provision will fund further digital technology buildout for a targeted 2,700 MSMEs while emphasising the importance of this undertaking and the dividends to be derived.
• Senator Hill noted that the growth recorded by several of Jamaica’s major corporations and enterprises was largely driven by their embracement of technology and encouraged MSMEs to do likewise. He also reminded entrepreneurs that they were operating in an era where digital adoption is an absolute imperative, hence the decision to incorporate agencies such as the JBDC to lend support in driving this thrust.
• Meanwhile, Programme Manager, EU Delegation to Jamaica, Turks & Caicos, The Bahamas, Belize and the Cayman Islands, Marlene Lamonth, said the partnership with Jamaica is a testament to the shared commitment to fostering economic resilience, innovation and inclusive growth for the citizens. “The European Union’s decision to support Jamaica in this journey comes from the recognition of the vital role that MSMEs play in the economy. According to the PIOJ, MSMEs account for 80 per cent of employment in Jamaica, showing that you are the engine of economic growth and the lifeblood of the communities across the country,” Ms Lamonth said.

(Source: JIS)