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TEF provides additional $350M for Exim Bank Loan Facility

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#Jamaica, September 4, 2017 – Kingston – The Tourism Enhancement Fund (TEF) has allocated an additional $350 million to the National Export-Import (EXIM) Bank of Jamaica to continue the provision of loans to the operators of small and medium-sized tourism enterprises (SMTEs).

The allocation represents the second tranche of the $1-billion TEF/EXIM Bank Jamaica loan facility, which was launched in September 2016 with an initial $300 million capital injection by the tourism entity.    The facility enables the industry stakeholders to access between $5 million and $25 million at five per cent interest for five years.

Among those eligible are operators involved in spa and wellness; gastronomy – restaurants and food-related businesses; small accommodations; shopping and galleries; attractions; knowledge networks; and sports and entertainment as well as manufacturers and suppliers.

Speaking at the official handover at the Tourism Ministry in New Kingston on Wednesday, August 30, Portfolio Minister, Hon. Edmund Bartlett, said the loan facility was a critical financial lifeline that had allowed and would enable more sector stakeholders to create jobs, generate growth and facilitate economic well-being.

Additionally, he said it represented the Government’s acknowledgement of the entities’ integral role in the tourism value chain.

“The idea was born out of the need to build capacity within the sector and provide financial support to enterprises that would better enable them to capitalise on business opportunities to better participate in the supply chain of the sector,” the Minister said.

Mr. Bartlett advised that the first tranche of the loan facility has been fully disbursed, and encouraged other entrepreneurs not yet accessing the provision to take advantage of it to grow their businesses.

EXIM Bank Managing Director, Lisa Bell, disclosed that the entity has, to date, processed more than 28 loan applications totalling $509 million under the programme. She said applications totalling $408 million have been approved, with disbursements totalling $311 million.

The applications processed for approval fall in the categories of: attractions – $84.5 million; small accommodations – $105 million; gastronomy – $25 million; linkages – $32 million; shopping networks – $30 million; manufacturing – $47.5 million; services – $48.4 million; spa and wellness – $12. 5 million; and domestic tours and car rentals – $125 million.

“We are very pleased about that, because we knew this programme could be revolutionary, not only because of its attractive terms and conditions but it really would put funding into the hands of those who needed it,” Mrs. Bell said.

She further noted that the Bank has received an additional 25 qualified expressions of interest totaling approximately $470 million.

In 2015, the World Bank noted that formal SMTEs contribute up to 60 per cent of total employment and up to 40 per of national income in emerging economies.

In the Caribbean, these enterprises contribute more than 90 per cent of employment and 70 per cent of the gross domestic product.

For more information on the loan facility, persons may call the EXIM Bank at (876) 630-1400 to make an appointment; visit its offices at 85 Hope Road, Kingston 6; or website at www.eximbankja.com.

 

 

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CARPHA Progresses to Eligibility for the First Disbursement of Pandemic Funding

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Following a landmark Public Signing Ceremony for the Pandemic Fund (PF) Technical Cooperation Agreement (“Reducing the Public Health Impact of Pandemics in the Caribbean through Prevention, Preparedness, and Response” [RG-T4387] Project) on December 14, 2023, in Trinidad, the Caribbean Public Health Agency (CARPHA) and the Inter-American Development Bank (IDB) continues to progress towards the start of implementation.

 CARPHA fulfilled the IDB’s nine conditions prior to first disbursement, achieving full eligibility on March 15, 2024, and is now eligible for the first disbursement. This milestone achievement in just 3 months after the signing speaks to the commitment of both CARPHA, the Executing Agency, and IDB, the Implementing Entity, toward the regional PF project with the objective of supporting the reduction of the public health impact of pandemics in the Caribbean by building pandemic prevention, preparedness and response (PPR) surveillance & early-warning systems (EWS), laboratory systems and workforce capacity, regionally at CARPHA and in countries.

Since the signing of the Technical Cooperation Agreement and as part of the conditions prior to first disbursement, CARPHA has achieved the following key outputs (i) the development of the PF Project Operations Manual, Multi-annual Execution Plan, Procurement Plan, Financial Plan, Procedure for CARPHA’s Financial Reporting System; (ii) vacancy announcements for two tranches of consultants with the subsequent hiring of five (Technical Coordinator, Financial Specialist, Procurement Specialist, Operations Officer and Project Operations Coordinator) and (iii) the establishment of the Project Execution Unit (PEU) and Project Execution Steering Committee (PESC). The dedicated PEU will be responsible for execution according to its planned timelines, which will be led by the Dr. Lisa Indar, the Project Director (CARPHA’s Director of Surveillance, Disease Prevention and Control Division).

 CARPHA, as the lead regional public health agency and an expression of Caribbean Cooperation in Health is mandated by its Inter-Governmental Agreement (IGA) to support its 26 CARPHA Member States (CMS) in bolstering national systems and coordinating regional response to public health threats. The Agency works closely with regional and international agencies and uses regional mechanisms, surveillance systems, and networks for coordinating its public health response work.

In July 2023, the PF Governing Board announced that CARPHA’s regional entity proposal, entitled ‘Reducing the Public Health Impact of Pandemics in the Caribbean through Strengthened Integrated Early Warning Surveillance, Laboratory Systems and Workforce Development’ was successfully selected for the first round of financing. It was one of only 19 proposals selected from over 300 submissions and the only regional project. The three priority areas in the proposal are: (i) Comprehensive disease surveillance and EWS, (ii) Laboratory systems and (iii) Human resources and public health and community workforce capacity.

This project is expected to begin implementation in March 2024, starting off with a blended onboarding session. A Stakeholder Meeting with countries is tentatively planned for July 2024.

CARPHA remains dedicated to working together with the IDB, CARPHA Member States and the Pandemic Fund to successfully implement the regional proposal geared toward reducing the public health impact of pandemics in the Caribbean.

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Men who had Murdered Man, Marley Higgs’ cell phone face Court

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Wilkie Arthur

Freelance Court Correspondent

The prosecution intends to try two young North Caicos men, both age 21 for the offense of possession of property of a murdered man, property that was stolen and landed in their possession.

The phone belonged to Peureton ‘Marley’ Higgs, who is believed to have been an innocent gunned down at his apartment complex in the Glass Shack area in a spray of bullets on February 2 that killed another man and wounded two others, including a ten-year-old little girl.

The cell phone was described as white in colour, an iPhone, in a hard black case. 

On Monday, March 18th, JEFFVANO HANDFIELD of North Caicos pleaded not guilty to the offense, and the matter was adjourned to April 2024. He was granted bail in the matter.

A second North Caicos man was charged similarly.  

SARENO CAPELLAN aka, Kino Williams is the second individual brought before the court pertaining to the said cellphone. He appeared in court a week after JEFFVANO HANDFIELD, the date being Monday March 25th 2024.

The case for the Crown is that both men sometime in February of this year possessed the cellphone knowing or suspecting it to be stolen property.

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Supreme Court Closed for Easter

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NOTICE is hereby given that the Easter Recess shall commence on Friday 29th April, 2024 and end on Friday 5th April, 2024. During the Easter Recess Judge Selochan will be available to deal only with matters that are urgent or require prompt attention.

Court Business During the Easter Recess

A person who wishes to have a matter heard during the recess must file a certificate of urgency along with an affidavit, which must set out the reasons why the matter is urgent or requires prompt attention. The matter will not be listed during the recess unless the Judge deems it fit for urgent hearing.

Opening Hours During the Easter Holiday

The Supreme Court’s last sitting day for the first term is Thursday 28th March, 2024. The Court will officially resume sittings on Monday 8th April, 2024. The Supreme Court Offices in both Grand Turk and Providenciales will continue to operate while the Court is not sitting during the recess.

The Court Office will be closed on the following public holidays:

  • Friday 29th March, 2024 (Good Friday) CLOSED
  • Monday 1st April, 2024 (Easter Monday) CLOSED

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