Jamaica S&S (IFC-600796)

  • Jamaica
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jan 12, 2015
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Jamaican food processing/exporting MSMEs
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 1.98 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 30, 2017

Disclosed by Bank Feb 18, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
The Jamaica Sauces & Spices Project will support Jamaican food processing/exporting micro, small, and medium sized enterprises (MSMEs) to establish new linkages to export markets, strengthen collaboration and joint activities among MSMEs to improve supply-side coordination and build MSME capacity to improve food safety standards and certification as well as operational productivity. As a result, MSMEs are expected to save costs and increase sales revenues by increasing quality, diversifying products, and seizing new export market opportunities. The project is part of the CARIFORUM-EU Economic Partnership agreement (EPA), which aims to make it easier for people and businesses from the two regions to invest in and trade with each other, thus helping Caribbean economies grow and create jobs. It is the first partnership between the European Union (EU) and IFC to work with Advisory Services in Latin America and the Caribbean. IFC will support the implementation of the EPA Capacity Building (EPA)-II program, which aims at improving access of Jamaican products to the rest of the world. This project will focus on Component 1 of the EPA-II program, strengthening the supply side in accessing export markets. The objective of Jamaica Sauces & Spices Small and Medium Enterprises and Value Chain Project is to strengthen the value chain of Small and Medium Enterprises in the sauces & spices sector by improving market linkages, addressing supply-side coordination failures, improving standards, and improving operational productivity of firms such as energy efficiency.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
The project is part of the CARIFORUM-EU Economic Partnership agreement (EPA) with the IFC partnering with the European Union.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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How it works