#KINGSTON, Feb. 18 (JIS): The Government has earmarked $485.8 million in the upcoming fiscal year to continue activities under the Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) project.
As
stated in the 2020/21 Estimates of Expenditure, now before the House of
Representatives, the funding will go towards increasing the number of Micro,
Small and Medium-sized Enterprises (MSME) accessing equity financing and capacity-building training; while also
strengthening institutions providing support to these entities.
The
objective of the BIGEE project is to promote sustainable and robust growth
among MSMEs and startups in Jamaica.
It
is being implemented by the Development Bank of Jamaica (DBJ) through funding
from the Inter-American Development Bank (IDB).
Among
the targets are: establishment of a Venture Capital Fund focused on financing
early stage businesses and other financing mechanisms to support the
development of MSMEs; and implementation or strengthening of institutions for the
development of MSMEs.
