Micro, small and medium-sized enterprises MSMEs affected by the coronavirus pandemic are to benefit from $3 billion in loans and grant support through partnership between the Ministry of Finance and the Public Service and the Development Bank of Jamaica DBJ.

Under the DBJ’s Social and Economic Recovery and Vaccine SERVE Jamaica Programme, which was officially launched on Wednesday, the entities will have access to funds to digitise their operations to better serve clients as well as recover from the economic fallout that has affected their cash flows.

The funds will be disbursed via partner financial institutions, including DBJ-approved financial institutions as well as entities such as credit unions and micro-credit establishments.

Three newly created products are being provided to MSMEs under the programme – MSME recovery loan facility; Go-Digital loan facility; and a Go-Digital Grant.