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Development Bank of Jamaica Provides $8 Billion in Funding Support for Businesses

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#Jamaica, February 13, 2018 – Kingston – The Development Bank of Jamaica (DBJ) has provided over $8 billion in funding support for businesses islandwide since the start of the 2017/18 fiscal year in April.  Managing Director, Milverton Reynolds, says the funds have been made available through equity funding under the Jamaica Venture Capital Programme (JVCP) as well as through capacity development and technical assistance initiatives.

Mr. Reynolds was speaking at Monday’s (February 12) launch of the DBJ’s fifth National Business Model Competition (NBMC), held at The Knutsford Court Hotel in New Kingston.  He pointed out that between April 2017 and January this year, loans totaling $6 billion were disbursed to micro, small and medium-sized enterprises (MSMEs).  These, he outlined, included $4.8 billion to small and medium-sized enterprises (SMEs) through approved financial institutions (AFIs), and $1.2 billion to micro entrepreneurs through approved microfinance institutions.

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Mr. Reynolds also advised that the DBJ issued 1,120 vouchers to entrepreneurs, which enabled them to access $263.25 million.  He noted that under the “revolutionary” voucher programme, hundreds of entrepreneurs are now able to access loans and other forms of funding, “because their businesses have been strengthened”.   Additionally, he said the Bank facilitated 26 business start-ups under its Innovation Grant from New Ideas to Entrepreneurship (IGNITE) programme, which enabled those entities to access $60 million in grant funding, resulting in the creation of hundreds of new jobs.

Mr. Reynolds further indicated that the DBJ has committed approximately US$2.25 million under the JVCP to three private equity and three private credit funds entities, along with over US$233 million from local and international investors for investment in local and regional businesses.

While noting that the Bank is “very pleased by these achievements”, the Managing Director acknowledged that they did not result solely from the DBJ’s efforts, but involved collaborations with AFIs and microfinance institutions as well as fund managers and business service intermediaries.

“Also of tremendous significance is the support from our international development partners, such as the Inter-American Development Bank (IDB), Multilateral Investment Fund (MIF) and World Bank,” he pointed out.

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“Over the years, we have developed partnerships with a critical group of institutions and organisations that share our mission, and we are deeply grateful for their support and belief in what we do at the DBJ,” the Managing Director added.

Noting that the DBJ is Jamaica’s foremost development bank, Mr. Reynolds said its role in nation-building is reinforced by “our focus on economic growth and development”.  The National Business Model Competition, which commenced in 2014, encourages and promotes entrepreneurship on the campuses of Jamaica’s colleges and universities.

Participating institutions in this year’s renewal, which runs from March 22 to 23, include the University of the West Indies; University of Technology; Edna Manley College of the Visual and Performing Arts; and Northern Caribbean University, which has won the competition since its inception.

The winner will represent Jamaica at the International Business Model Competition, slated for May 10 to 11 in the United States.

Release: JIS

 

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Team Trinidad & Tobago Makes Waves with Historic CARIFTA Aquatics Performance

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April 14, 2026 – Team Trinidad and Tobago delivered one of the most commanding performances at the 2026 CARIFTA Aquatics Championships, finishing third overall in swimming and second in athletics, signaling a powerful resurgence on the regional stage.

Competing in Martinique, the swim team amassed an impressive 747 points and 59 medals—20 gold, 19 silver and 20 bronze—in what officials are calling a historic showing. The result marks a significant step forward from previous years, reinforcing the country’s growing strength across disciplines and age groups.

Standout performances came from a deep and talented squad. Zahara Anthony led the charge with 72 points, dominating the Girls 11–12 division across freestyle, butterfly and individual medley events. Liam Carrington followed closely with 69 points, delivering a near-flawless campaign in the Boys 15–17 category, while Marena Martinez, Xaiden Valentine and Serenity Pantin added critical points with consistent podium finishes.

The team’s strength was not limited to individual brilliance. Athletes like Micah Alexander, Ethan McMillan-Cole and Jaden Mills showcased versatility and depth, while relay contributions from swimmers including Julius Ennals and Anpherne Bernard helped secure the team’s overall standing.

The performance drew high praise from the Ministry of Sport and Youth Affairs in Trinidad and Tobago, which welcomed the team home in celebration of what was described as a defining moment for the programme.

Minister Phillip Watts noted, “This success is not accidental. It is the result of hard work, structure, vision, and belief. Our young athletes are proving that Trinidad and Tobago is rising again.”

He added that every performance sent a clear message across the region that the country is “not standing still… we are moving forward.”

The showing in Martinique underscores the impact of sustained investment in youth development, coaching and systems, with Team TTO emerging as one of the most complete and competitive squads at CARIFTA 2026.

With momentum now firmly on their side, Trinidad and Tobago’s swimmers are not just competing—they are setting the pace for the future of Caribbean aquatics.

Developed by Deandrea Hamilton • with ChatGPT (AI) • edited by Magnetic Media.

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Mottley Celebrates CARIFTA Champions After Stunning Relay Upset

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Barbados, April 14, 2026 – Barbados’ Prime Minister Mia Mottley rolled out a hero’s welcome for the island’s CARIFTA athletes, celebrating a team that delivered one of the most talked-about moments of the 2026 championships.

At a reception held at Ilaro Court, Mottley met with the returning team, including the country’s Under-20 men’s 4x400m relay squad—Kyle Gale, Demario Prince, Akeem Sirjue and Jamar Marshall—whose electrifying performance at the Kirani James National Stadium stunned regional powerhouses.

The Barbadian quartet surged to gold in a dramatic finish, toppling both The Bahamas—long dominant in the event—and Jamaica, whose athletes have historically controlled the CARIFTA track scene with decades of relay success.

The victory capped a high-energy night and is already being described as a defining moment for Barbadian athletics.

Speaking after the team’s return, Mottley underscored the national pride sparked by the athletes’ achievements.

“This afternoon filled me with pride. To welcome our CARIFTA athletes to Ilaro Court, to see their smiles, feel their joy and thank them personally for what they have done for Barbados, was deeply special,” she said.

The Prime Minister also announced a $1 million investment to support athlete development, including enhancements to sporting infrastructure, sports science, nutrition and training systems.

“Our young people are soaring already. Barbados must now make sure they have every tool to go even higher,” Mottley added.

The reception signaled not just celebration, but commitment—positioning Barbados to build on a breakthrough moment that has shifted the regional athletics conversation.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Fighting the fungus foe of the beloved banana

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How Venezuelan farmers are learning to grow and live with a devastating plant disease

 

In the fields of Venezuela, where the banana has been for generations a symbol of sustenance and tradition, a shadow fell across the land. In 2023, Venezuela’s National Institute of Integral Agricultural Health (INSAI) declared a phytosanitary emergency: the fungus Fusarium Tropical Race 4 (TR4) (Fusarium oxysporum f. sp. cubense tropical race 4; syn. Fusarium odoratissimum) had arrived in producing areas in the states of Aragua, Carabobo and Cojedes.

This fungus, considered a devastating disease of banana and plantain (Musaceae) trees, can remain in the soil for more than two decades, threatening production and the lives of those who depend on it.

In the state of Aragua in the north of the country, the Renacer community had been growing bananas and plantains on 20 hectares since 2018. Then Fusarium arrived.

“When the disease hit, the entire plantation began to deteriorate. We refused to ‘die’ with the trees because that was our livelihood. The visits of INSAI confirmed that we had to chop down the banana trees. I cried a lot because I had worked with my banana trees for years,” recalls woman farmer, Lesbia Margarita García, with a broken voice.

In response, INSAI implemented measures to eliminate the affected plantations and improve the soil health by changing to other crops that allow agricultural production to recover. The Food and Agriculture Organization of the United Nations (FAO) offered assistance by providing corn seeds, tools, biosecurity inputs and training, with teams of experts helping farmers to start again.

“Planting corn, thanks to the INSAI-FAO programme, gave us a harvest that benefited everyone. We have been improving the soil,” says Lesbia Margarita with a smile. “Now we rotate crops, observe soil health and have learned how to use natural fertilizers. Expert assistance has been key.”

The pilot project works directly with affected producers in high-risk areas, promoting alternative crops such as cereals and vegetables, delivering inputs and tools to mitigate damage and applying biosecurity measures for safe and effective containment.

“Beyond the corn received, we have already planted cassava, chili peppers, beans and pumpkin. We hope that by the end of the year [2025] we will be diversified and that each season we will have something to sell. These lands do not give up,” says Lesbia Margarita with conviction.

The Renacer community is beginning to see fruits. Their products are reaching local markets, generating income and rebuilding their livelihoods.

Key actions to manage Fusarium TR4 are ongoing, including regular monitoring, continuous training, inter‑institutional coordination, updates to the national plan, information campaigns and producer impact assessments. INSAI is sustaining regulatory, surveillance measures and training —with FAO support—as part of a comprehensive long‑term strategy.

At the global level, FAO supports awareness raising, capacity building and international collaboration in the fight against Fusarium TR4 by facilitating the World Banana Forum and its Global Network on TR4.

“The objective is for countries to strengthen their operational and technical capacity, articulating actions between the public sector, the private sector and family farmers,” says Raixa Llauger, FAO Agriculture Officer in Mesoamerica. “FAO and local partners have promoted this approach in Venezuela.”

As an essential part of the activities, a comprehensive training programme was developed with activities that taught farmers how to identify the disease contain it and protect crops. In addition, FAO has distributed laboratory equipment, biosecurity tools and a multispectral drone to INSAI. Drones are an efficient and cost‑effective tool for phytosanitary surveillance, offering rapid, high‑resolution monitoring and early detection of plant pests and diseases.

Overall, the project strengthened biosecurity measures against the Fusarium fungus through the adoption of the National Action Plan and the establishment of partnerships with national and international institutions. In addition, the pilot initiative supporting smallholder farmers in key production areas and a nationwide awareness campaign with broad outreach improved surveillance, diagnosis and phytosanitary response capacities across the country.

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