Milverton Reynolds, managing director of the Development Bank of Jamaica. - File
The Development Bank of Jamaica Limited has approved over $107.5 million of loans under the National Insurance Fund (NIF) facility, saying yesterday the funds represent its total allotment.
DBJ said it processed almost 70 applications for loans ranging from $187,000 to $5 million for projectslinked to pig, goat and poultry rearing; furniture and garment manufacturing; horticulture; bananas, yam, vegetable and coffee farming; and transport.
"This milestone is achieved even before many other lending agencies have received their first drawdown from the NIF," said Milverton Reynolds, DBJ managing director.
The bank is seeking additional funds under the NIF programme, which targets small and medium enterprises, but would not disclose the amount.