Over 600 MSMEs Receive Support
MIIC Author
More than 600 entities across Trelawny, Hanover, St. Elizabeth and St. James have received direct assistance as the Government intensifies support for micro, small and medium-sized enterprises (MSMEs) following Hurricane Melissa.
The support programme, which is being led by the Ministry of Industry, Investment and Commerce, includes the reconstruction of a cluster of 44 small shops in Border, St. Elizabeth, built to be more hurricane-resilient and flood-protected.
Grocery operations and cold-storage capacity in Whitehouse, Westmoreland, have also been restored through targeted generator support.
Speaking with JIS News, State Minister, Hon. Delano Seiveright, said that while the reinstatement of electricity, water and telecommunications services has progressed steadily, many small and micro enterprises, particularly in western Jamaica, continue to face disruption, making targeted business recovery support a priority.
He noted that the focus is on speed, coordination and practical interventions to help businesses reopen and preserve jobs.
“Recovery must be fast and grounded in real solutions for businesses on the ground. This approach continues to guide our agencies as they work together to remove obstacles and support enterprise recovery,” he added.
In addition to the restoration of shops and provision of generators, agencies within the Ministry have implemented initiatives to aid in the recovery of MSME and enable them to quickly resume operations.
The Jamaica Business Development Corporation (JBDC) has been doing damage assessments, facilitating client reconnections and has established an emergency helpdesk, under its Build Back Stronger Programme.
The National Export-Import Bank of Jamaica (EXIM Bank) has implemented flexible recovery measures, including loan moratoria, fee reductions and expanded access to credit for affected businesses.
Additional measures include easing import and certification requirements by the Jamaica Trade Board Limited, and compliance flexibility and relocation support from the Jamaica Special Economic Zone Authority (JSEZA).
Mr. Seiveright noted that the Ministry is working closely with partner institutions, including the Development Bank of Jamaica (DBJ), to provide recovery financing initiatives, such as the $10-billion M5 Business Recovery Programme.
Source: JIS
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