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Jamaica's Finance and Public Service Minister Audley Shaw and World Bank Director for the Caribbean Yvonne Tsikata signed on Friday 23 January a $100 million Development Policy Loan at the Ministry's offices in Kingston to provide funding support for the Government's fiscal and debt sustainability program. This program is aimed at containing and reducing debt, enhancing revenues, and increasing the efficiency of public sector spending and investment. Speaking at the signing, Minister Shaw said the loan represents the World Bank's single largest disbursement to Jamaica, and brings the amount of funding received from the multilateral agency over the last four years to $217 million. The loan, which he pointed out is being made available at an interest rate of 1.8 percent, is to be repaid over 30 years, with a five-year period of grace on the repayment of the principal.
World Bank's Jamaica Project Press Release
Jamaica's Signing Ceremony Press Release
Yvonne Tsikata's Remarks at Signing Ceremony
Other World Bank Jamaica Projects
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