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Finance ministry to benefit from Caribbean Development Bank grant

Published:Wednesday | October 19, 2016 | 12:37 PM
The Minister of Finance offices located at National Heroes Circle in Kingston.

The Caribbean Development Bank (CDB) is providing Jamaica with a US$400,000 technical assistance grant to strengthen the capacity of the Ministry of Finance.

The CDB says the funding will help to support Jamaica in the ongoing implementation of the Economic Reform Programme.

Specifically, the grant will help to enhance the ministry of finance’s management team’s capabilities to guide the implementation of critical reforms to support the achievement of key medium-term macroeconomic results.

It will also provide technical advice to the Minister of Finance and the Cabinet on macroeconomic policy issues.

The CDB says the Jamaican Government had identified a need to bolster the Ministry of Finance’s technical expertise in fiscal and macroeconomic policy that supports the country’s reforms under its structural adjustment programme.

The programme is aided by the International Monetary Fund and other development partners including CDB, the Inter-American Development Bank, the World Bank, and the European Union.