IDB Gives Jamaica $60m Loan

The IDB has approved a 20-year $60m loan to Jamaica, the third it has provided for Jamaica’s public financial and performance management program. The loan has a 5-year grace period, and an interest rate based on Libor. The loan brings the total amount invested by the IDB in the program to $180m. The program includes policies to improve fiscal responsibility, performance management and financial management, says the IDB in a release. Jamaica’s Ministry of Finance and Public Services is in charge of the project.