Yesterday was the 50th anniversary celebration of the Inter American Development Bank’s (IDB) engagement with Jamaica which began in 1969. Today, the IDB is Jamaica’s single largest lender with a portfolio of US$1.6 billion representing approximately 11% of Jamaica’s debt. 
The IDB has had a profoundly positive impact on Jamaica over this time. They have assisted Jamaica across a range of areas including health, education, youth, energy, fiscal reform, public sector reform, and governance.
In addition the IDB provided technical assistance and financial resources that led to the establishment of major public bodies such as the FSC, the OUR, the NSWMA, RADA etc
The IDB helped with establishing our flagship social support programme, PATH.
Recently the GOJ entered into a Contingent Credit Facility with the IDB that would immediately provide USD equivalent of approx J$40 billion in loan resources in the event of natural disaster.
Recently the GOJ entered into a Contingent Credit Facility with the IDB that would immediately provide USD equivalent of approx J$40 billion in loan resources in the event of natural disaster.
The IDB has also been very active in the private sector and has played an integral lending role in major GOJ PPP’s such as TransJamaica Highway and the concession of the Kingston Container Terminal.
Most importantly, the IDB came to Jamaica’s assistance in the period 2008-2011 with approx. US$1 billion of low interest rate loans that replaced Jamaica’s prior dependence on double digit high interest rate international capital market loans. Jamaica will never forget that.
The IDB has been a great friend of Jamaica and the GOJ looks forward to 50 more years of working together.
