Development Bank of Jamaica

Loans through Approved Financial Institutions (AFIs) Relationships Division

The Development Bank of Jamaica (DBJ) continues to look critically at projects that facilitate growth and development in all areas of the economy. The DBJ seeks to stimulate and enhance the economic and social development of the country by working in tandem with the strategic focus of the Government of Jamaica.

The Approved Financial Institutions (AFIs)  Relationships Division has the direct responsibility of managing and administering DBJ credit lines and on-lend to AFIs.  This is a direct strategy of the Bank to continuously streamline its operations for maximum efficiency.

In doing so the AFI Relationships Division works closely with twelve (12) financial institutions that have been approved to on-lend DBJ’s funds to their clients, who are considered sub-borrowers of the DBJ.

AFIs include commercial and merchant banks, the Jamaica Co-operative Credit Union League, and the National People’s Co-operative Bank of Jamaica Limited, among others.

Funds are channelled to clients with viable developmental projects through AFIs that undertake the credit evaluation and the loan supervision. These funds are provided at attractive interest rates to clients involved in the productive sectors, such as: agriculture, agro-processing; manufacturing, tourism, mining and the service sectors.

The current AFIs are:

Commercial Banks

• Bank of Nova Scotia Jamaica Ltd.
  
• First Caribbean International Bank Ltd.
  
• First Global Bank Ltd.
  
• National Commercial Bank Jamaica Ltd.
  
• PanCaribbean Bank Ltd.
  
• RBTT Jamaica Ltd.
  

Merchant Banks

• Capital & Credit Merchant Bank Ltd.
  

Other AFIs

• Jamaica Cooperative Credit Union League
  
• Jamaica Money Market Brokers
  
• Jamaica National Building Society
  
• National Export-Import Bank Jamaica Ltd.
  
• National People's Cooperative Bank Jamaica Ltd.  

 Staff

The AFI Relationships Division is staffed by a team of highly trained and qualified professionals.

 Micro Finance Institutions (MFIs)

 In April 2009 the DBJ, cognizant of the role that micro, small and medium-sized enterprises (MSMEs) contribute to the development and stimulation of the Jamaican economy, established with the approval of the Government of Jamaica a Micro Finance Window. The DBJ provides wholesale funding to micro finance institutions (MFIs) for on-lending to entrepreneurs.

As of September 2009, five MFIs were accredited to on-lend DBJ’s funds.  The MFIs are:

Accredited Micro Finance Institutions

• Access Financial Services Limited
  
• JN Small Business Loans Limited
  
• NationGrowth MicroFinance Limited
  
• Micro Credit Limited
  
• Jamaica Co-operative Credit Union League Limited

The DBJ has been designated as the Government of Jamaica’s lead agency for co-ordination of all related MFI industry interventions.  In this regard the DBJ is assisting the micro finance institutions to achieve maturity and maximum outreach by facilitating access to capital and the professionalization of operations.

The AFI Relationships Division Loan Policy and Procedures

The DBJ loan policy and lending procedures are designed to ensure a hassle-free experience in order to make loans readily available via AFIs and MFIs.

Our customer service standards dictate our commitment and dedication to an efficient approval and disbursements process.
 

DBJ loans and special lines of credit

The DBJ is a self-financing entity and loans are negotiated from local and international multinational organizations and other financiers.  The following lines of credit are accessible through AFIs

(Please see PDF document Lines of Credit and Interest Rates)

Credit Lines

1. DBJ/Petrocaribe SME Fund

2. SME Development Fund

3. DBJ/Combined Disabilities Association Special SME Line for physically challenged entrepreneurs

4. DBJ/Fishermen’s Revolving Loan Scheme

5. DBJ Regular Line of Credit – US Dollars

6. DBJ Regular Line of Credit – Jamaican Dollars