The Development Bank of Jamaica (DBJ) has targeted more than 6,000 potential jobs in the information communication and technology (ICT) sector for the financial year 2013-2014 and it aims to make available J$6.3 billion to facilitate an estimated J$9 billion in business activities.
Responding to questions from The Sunday Gleaner, the DBJ said an estimated 13,000 jobs have been targeted between 2013-2018, with the ICT sector targeted to provide the majority of the jobs, and the remainder being distributed across agriculture, tourism, and services sectors.
Finance Minister Dr Peter Phillips in his Budget presentation announced that the DBJ had targeted $2 billion for disbursement specifically to the micro, small- and medium-sized enterprises (MSME) sector. However, the figures announced by the minister contradicted figures provided by the DBJ in its corporate plan, which it has since removed from its website.
DBJ told The Sunday Gleaner that the minister's stated figure was a "subset of the $6.3 billion in loans target in 2013-2014".
According to the DBJ, "Funding will be aimed at specific projects and programmes across the productive sector, which will be job-providing projects."
One of the entity's long-standing managers, whose role was to provide institutional strengthening to MSMEs, left the organisation at the end of July.
However, the DBJ said it was confident that "given the current structure, resources and strategic focus on the (MSME) sector, we will be able to achieve the target that we set ourselves".
In addition, the DBJ said it has "a sound strategic plan that is continuously assessed and enhanced to ensure that the bank adds socio-economic value to Jamaica and achieve its mission".
In the execution of its strategy, the bank said it has strong systems, structures and processes in place to ensure continuity.