Jamaica DPL

Abstract*

The objective of the Economic Stabilization and Foundations for Growth Development Policy Loan Program is to support the Government of Jamaicas implementation of a set of policy and institutional reforms to increase competitiveness and improve fiscal management. These reforms are a part of Jamaicas National Development Plan which sets development goals for economic prosperity, human development, security, and management of natural resources. This... Show More

Development Objective

Support the Government of Jamaica's implementation of a set of policy and institutional reforms to increase competitiveness and improve fiscal management.

Key Details

Project Details

Project ID
P145995
Status
Closed
Team Leader
Sona Varma
Borrower 2
Planning Institute of Jamaica,Planning Institute of Jamaice,Ministry of Finance and Planning,Jamaica,Ministry of Finance and Planning,Ministry of Finance and Planning

Country
Jamaica
Disclosure Date
January 9, 2014
Approval Date
(as of board presentation)
December 12, 2013
Effective Date
December 17, 2013

Total Project Cost 1
US$ 130.00 million
Implementing Agency
Ministry of Finance and Planning
Region
Latin America and Caribbean
Fiscal Year 3
2014

Commitment Amount
US$ 130.00 million
Environmental Category
N/A
Environmental and Social Risk
Not Applicable
Closing Date
June 30, 2014

Last Stage Reached
BANK APPROVED
Last Update Date
August 16, 2023

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Economic Policy

FY17 - Economic Growth and Planning2%
- FY17 - Migration, Remittances and Diaspora Engagement2%
FY17 - Fiscal Policy8%
- FY17 - Fiscal sustainability6%
- FY17 - Subnational Fiscal Policies2%

FY17 - Human Development and Gender

FY17 - Labor Market Policy and Programs2%
- FY17 - Labor Market Institutions2%

FY17 - Private Sector Development

FY17 - Business Enabling Environment39%
- FY17 - Regulation and Competition Policy39%
FY17 - Jobs2%
- FY17 - Youth Employment2%

FY17 - Public Sector Management

FY17 - Public Administration28%
- FY17 - Administrative and Civil Service Reform11%
- FY17 - Transparency, Accountability and Good Governance17%
FY17 - Public Finance Management23%
- FY17 - Debt Management6%
- FY17 - Public Expenditure Management17%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	130.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	130.00
IDA Commitment	N/A
IBRD + IDA Commitment	130.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	130.00

Summary Status of World Bank Financing (US$ Millions) as of July 31, 2025

No data available.

Detailed Financial Activity as of July 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
May 1, 2021	IBRD-83170	Loan Repay	2,769,000.00
May 1, 2019	IBRD-83170	Int Charges	2,281,102.80
Nov 1, 2021	IBRD-83170	Int Charges	584,667.25
Nov 1, 2021	IBRD-83170	Loan Repay	2,769,000.00
May 1, 2022	IBRD-83170	Int Charges	550,089.56
May 1, 2022	IBRD-83170	Loan Repay	2,769,000.00
Nov 1, 2022	IBRD-83170	Int Charges	1,775,795.00
Nov 1, 2022	IBRD-83170	Loan Repay	2,769,000.00
May 1, 2023	IBRD-83170	Int Charges	2,890,931.00
May 1, 2023	IBRD-83170	Loan Repay	2,769,000.00
May 1, 2023	IBRD-83170	Int Charges	98,729.12
Nov 1, 2023	IBRD-83170	Int Charges	48,754.80
Nov 1, 2023	IBRD-83170	Int Charges	3,423,266.80
Nov 1, 2023	IBRD-83170	Loan Repay	2,769,000.00
May 1, 2024	IBRD-83170	Int Charges	21,248.76
May 1, 2024	IBRD-83170	Loan Repay	2,769,000.00
May 1, 2024	IBRD-83170	Int Charges	3,539,856.50
Dec 12, 2013	IBRD-83170	Loan Commitment	130,000,000.00
Nov 1, 2019	IBRD-83170	Int Charges	2,199,311.00
May 1, 2020	IBRD-83170	Int Charges	1,715,350.00
May 1, 2020	IBRD-83170	Loan Repay	2,769,000.00
Nov 1, 2020	IBRD-83170	Int Charges	968,934.75
Nov 1, 2020	IBRD-83170	Loan Repay	2,769,000.00
May 1, 2014	IBRD-83170	Int Charges	389,039.62
Dec 17, 2013	IBRD-83170	Loan Disb	325,000.00
Dec 17, 2013	IBRD-83170	Fee Charges	325,000.00
Dec 19, 2013	IBRD-83170	Loan Disb	129,675,000.00
Nov 1, 2014	IBRD-83170	Int Charges	524,911.10
May 1, 2015	IBRD-83170	Int Charges	542,497.25
Nov 1, 2015	IBRD-83170	Int Charges	624,577.75
Nov 1, 2016	IBRD-83170	Int Charges	976,733.30
May 1, 2016	IBRD-83170	Int Charges	722,944.44
May 1, 2017	IBRD-83170	Int Charges	1,222,252.80
Nov 1, 2017	IBRD-83170	Int Charges	1,382,044.40
May 1, 2018	IBRD-83170	Int Charges	1,457,552.80
Nov 1, 2018	IBRD-83170	Int Charges	2,119,577.80
May 1, 2021	IBRD-83170	Int Charges	588,221.25

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Program Management	Satisfactory	2014-04-13
Monitoring and Evaluation	Satisfactory	2014-04-13
Overall Implementation Progress (IP)	Satisfactory	2014-04-13
Progress towards achievement of PDO	Satisfactory	2014-04-13

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 06-22-2015
Outcomes	Moderately Satisfactory
Risk to Development Outcome	High
Bank Performance	Moderately Satisfactory
Borrower Performance	Moderately Satisfactory
Government Performance	Not Applicable
Implementing Agency	Not Applicable

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 09-30-2015	PROJECT PERFORMANCE ASSESSMENT REPORT: 09-19-2019
Outcome Rating	Moderately Satisfactory	Satisfactory
Risk To Development Outcome	High	Modest
Bank Performance	Moderately Satisfactory	Satisfactory
Borrower Performance	Moderately Satisfactory	Satisfactory
Government Performance	Moderately Satisfactory	Not Rated
Implementing Agency	Moderately Satisfactory	Not Rated
Icr Quality	Satisfactory	Not Rated
M&e Quality	Modest	Substantial

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Civil court cases above JM$ 250,000 processed by lower courts	Value	0.00	0.00	2250.00
	Date	January 1, 2013	March 10, 2014	December 31, 2014
	Comment		Justice Enforcement Management System is now in place to track the progress of civil and criminal cases in the court system. Whilecurrent data is not available, anecdotal information suggests lower courts are beginning to handle a number of cases above JM$250,000.

Number of sector-based tax incentives programs	Value	15.00	1.00	4.00
	Date		March 10, 2015	December 31, 2014
	Comment		Tax incentives legislation passed in December, replaces the multiplicity of discretionary tax waivers and sectoral incentivesschems.	Target met.

Percent of Public investment projects in the online database	Value	0.00	100.00	90.00
	Date	June 30, 2013	March 10, 2014	December 31, 2014
	Comment		Target met. All 297 projects are in the database, however not all the info has been uploaded.

Number of formalized microenterprises and small business	Value	12655.00	13608.00	0.00
	Date	March 31, 2012	March 31, 2013
	Comment	Increase in number of formalized MSME expected to file returns. Target is a 5% increase.	A 7.4% growth in formalized MSMEs over the previous year. Recent steps taken or underway to increase formalization, introductionofone-stop Superform forbusiness registration, government procurement preferences, and mobile registration

Progress in completing pension reform legislation	Value	Cabinet decision	White paper on public pension reform tabled in par
	Date	November 8, 2013	March 10, 2014
	Comment		Cabinet Submission drafted for Cabinet approval for the issue of drafting instructions for the Chief Parliamentary Counsel todraftthe legislation