DBJamaica introduces voucher for technical assistance program to support SMEs

The Development bank of Jamaica has introduced a programme called the Voucher for Technical Assistance (VTA) to assist small and medium-sized enterprises (SME) in strengthening their managerial and administrative abilities to improve their creditworthiness.

In explaining the need for the VTA, Mr. Milverton Reynolds, the DBJ’s Managing Director, said that it has been the perennial experience of the Bank and its Approved Financial Institutions (AFI), the network of partners through which the DBJ provides loans for development purposes, that SMEs have significant structural problems which have made it difficult for them to access financing.

“The DBJ is once again stepping in to assist these SMEs to organise themselves in ways that will enable them to access credit to expand and upgrade their businesses,” he said. “This assistance is one of the pillars of the DBJ’s strategic plans to facilitate the social inclusion of entrepreneurs and SMEs to participate in the national economy.

“The importance of this outreach cannot be overstated. Output will be increased, more persons will be employed and the tax net will be widened while individuals and families will see their standard of living improve.”