Development Bank Of Jamaica (DBJ)
The Development Bank of Jamaica Limited was created from the merger of the Agricultural Credit Bank of Jamaica Limited and the National Development Bank of Jamaica Limited on April 1, 2000. The operations, assets and liabilities of the National Investment Bank of Jamaica (NIBJ) and the Development Bank of Jamaica (DBJ) were merged on September 1, 2006, and NIBJ’s main portfolio responsibilities which included privatization, investments, and portfolio monitoring were transferred to DBJ.
DBJ’s mission is to assist in the development and modernization of all viable enterprises in industry, agriculture, agro-industry, manufacturing, information processing, mining, tourism and the services sectors with special emphasis on the provision of loan financing to micro, small and medium-sized enterprises.
DBJ does not lend funds directly to individuals or promoters of projects. Instead, funds are channeled through partners referred to as Approved Financial Institutions (AFI) and Micro Finance Institutions (MFI) which provide the initial credit evaluation and loan supervision before on-lending to clients with viable projects.
AFIs include commercial and merchant banks, the National People’s Co-operative Bank and credit unions. MFIs include Access Financial Services Limited, Jamaica Credit Union League Limited, JN Small Business Loans Limited, Micro Credit Limited and Nation Growth Micro Finance Limited.
General Lending Criteria
The DBJ will provide financing to entities operating in Jamaica and engaged in viable businesses in the targeted sectors for:
Construction of buildings/structures (for productive purposes);
Establishment of crops and livestock;
Expansion or modification of structures;
Purchase of machinery and equipment;
Purchase of movable fixed assets e.g. tractors, back hoes, farm vehicles, etc.;
Permanent working capital (up to a maximum of 20% of the loan request);
Rehabilitation of existing enterprises;
Energy-saving projects; and
Tourist attractions and wellness projects.
Mr. Joseph M. Matalon - Chairman
Board meets once per a month may have loans meeting in between, depends on the influx.