Development Bank of Jamaica issues calls for proposal


Development Bank of Jamaica issues calls for proposal to be used to finance projects for MSMEs

Sunday, February 16, 2020

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The Development Bank of Jamaica (DBJ) is issuing a call for proposal (CFP) to local and international fund managers with the capability of raising matching private capital and undertaking investments in Jamaica's small- and medium-sized enterprises (SME).

The DBJ is extending this invitation through its implementing units Jamaica Venture Capital Programme (JVCapital), Access to Finance, and in collaboration with a group of corporate investors. The CFP, under the Jamaica Access to Finance for MSME (micro, small, and medium-sized enterprises) — a government project — will be financed by the World Bank and is explicitly geared to supporting the establishment of SME fund for risk capital financing.

Eligible applicants are invited to present their proposals to the panel in accordance with the terms, conditions and requirements as set out in the CFP document, which can be found at and/or .

Submission of proposals should be sent in both electronic and hard copy format to and addressed to 'The Investor Panel Secretariat, Fund Manager for the Establishment and Management of an SME Fund c/o Development Bank of Jamaica, 11a Oxford Road, Kingston 5'.

The closing date for submissions is March 13 at 3:00 pm.

Fund managers selected under the pre-qualification process will be required to make a presentation to the investor panel on a date to be announced during the period April 8 – 14.

This is the third time the DBJ and its investor panel are issuing a CFP for fund managers.

The DBJ in 2014 established JVCapital as its implementation unit to work with a group of corporate and institutional investors that, from time to time, collaborate to issue CFPs for fund managers.

To date, the DBJ has invested in five funds — Portland Private Equity, Caribbean Mezzanine Fund 1, Sygnus Credit Investments, MPC Caribbean Clean Energy, and SEAF Caribbean SME Growth Fund.

The funds have, to date, made a combined investment in 37 companies valued at US $185 million and have raised US $318.7 million, in Jamaica, the wider Caribbean and Central America.

Twenty-two of these investee businesses are locally owned.

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