EXIM Bank and agencies of the Ministry vital to Jamaica’s economic growth, says Minister Shaw

Minister of Industry, Investment and Commerce, Hon. Audley Shaw, says that the role of the National Export-Import Bank of Jamaica (EXIM Bank) and other key agencies of the Ministry is vital to Jamaica’s economic growth and development.
“This Ministry is one of the vital Ministries, if we are going to restore the economy, and get the country back on a path of growth. With the challenges that we now have, we must return to a path of significant growth in the economy. If we don’t do it, we won’t be able to create the wealth that is necessary to move the country forward,” Minister Shaw said.
Addressing the senior management team of the National Export-Import Bank of Jamaica Limited (EXIM Bank) at its 85 Hope Road offices, Kingston, on October 15, 2020, Minister Shaw commended the EXIM Bank’s team on the work that they have been doing over the years in facilitating Jamaica’s path to sustainable economic growth.
“The work of the Bank is just beginning. As a Ministry, and as a Government, whatever the challenges are, we are going to straighten them out because we have a lot of work to do. As a Development Financing Institution (DFI), the Bank has been very impactful in addressing market gaps and in strategically broadening access to finance, particularly, for the critical SME sector,” he added.

Meanwhile, State Minister, Hon. Dr. Norman Dunn, who was officially introduced to the EXIM Bank’s team, also commended the work of the Bank. He noted that the Bank offers the best opportunity for small businesses to prosper and grow.
“Our small and medium-sized enterprises (SMEs) are the backbone on which every country prospers, not just big businesses. EXIM Bank is at a pivotal crossroad to assist small businesses, in particular, during the challenges that we are now facing due to the COVID-19 pandemic,” Minister Dunn noted.
For her part, Managing Director, EXIM Bank, Lisa Bell, informed that access to finance is still a major challenge that is preventing business success. She noted that the EXIM Bank continues to support the SME sector as they are critical to economic growth.
The EXIM Bank, an agency of the Ministry, is Jamaica’s premier trade financing institution and the Caribbean’s first Export-Import Bank. The Bank’s mandate is to facilitate sustainable economic growth through increased exports and sustained job creation by providing competitively-priced trade financing solutions to the productive sector including exporters, potential exporters and direct suppliers to exporters.

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