Financial System Reform Support Programme (IADB-JA-L1058)

Countries
  • Jamaica
Where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Completed
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
Jul 13, 2016
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
Jamaica
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 100.00 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 @ IADB website

Updated in EWS Jun 27, 2017

Disclosed by Bank Jan 28, 2016


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Project Description
The objective of the programme is to enhance the contribution of the financial sector to economic growth by: (i) strengthening financial stability; (ii) enhancing the financial inclusion of firms and individuals; and (iii) improving the financial legal framework.
Investment Description
  • Inter-American Development Bank (IADB)
This operation is the first of a programmatic policy based loan series, which will be made up of two contractually independent and technically linked loans. The current operation is the first of two consecutive operations that are linked on a technical level, but financed separately as Programmatic Policy-Based Loan (PBP) operations. The first operation is for a maximum amount of US$100 million, which is consistent with the country’s external financing needs (US$900 million in FY 2015/16 excluding PetroCaribe buyback). This operation would cover 11% of these needs. While the amount and the timing of the second operation will be decided in the corresponding programming exercise based on the country’s financing needs, it is expected that the conditionalities identified for the second operation will be met during 2017.
Contact Information
ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).