Jamaica S&S (IFC-600796)

Countries
  • Jamaica
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
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jan 12, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Jamaican food processing/exporting MSMEs
The holder of the loan, grant, or other investment.
Sectors
  • 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, converted to USD$. Please see updated project documentation 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
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
  • International Finance Corporation (IFC)
The project is part of the CARIFORUM-EU Economic Partnership agreement (EPA) with the IFC partnering with the European Union.
Contact Information
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