Access to Finance for MSMEs

Abstract*

The development objective of Access to Finance for Micro, Small and Medium Enterprises Project for Jamaica is to improve access to finance for micro, small, and medium enterprises (MSMEs). This project has four components as follows: 1) The first component, Enhancing the Credit Enhancement Facility (CEF) for guarantees to MSME loans, aims at improving the operational features of the CEF. 2) The second component, Supporting the establishment of an... Show More

Development Objective

The Project Development Objective (PDO) is to improve access to finance for micro, small, and medium enterprises (MSMEs).

Key Details

Project Details

Project ID
P152307
Status
Closed
Team Leader
Fadwa Bennani , Jean Lobet
Borrower 2
Ministry of Finance and the Public Service

Country
Jamaica
Disclosure Date
June 28, 2017
Approval Date
(as of board presentation)
January 29, 2018
Effective Date
May 29, 2018

Total Project Cost 1
US$ 15.00 million
Implementing Agency
The Development Bank of Jamaica
Region
Latin America and Caribbean
Fiscal Year 3
2018

Commitment Amount
US$ 15.00 million
Environmental Category
F
Environmental and Social Risk
Not Applicable
Closing Date
January 15, 2025

Consultant Services required
Yes
Last Stage Reached
BANK APPROVED
Last Update Date
January 30, 2024

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 - Environment and Natural Resource Management

FY17 - Climate change4%
- FY17 - Mitigation4%

FY17 - Finance

FY17 - Financial Infrastructure and Access94%
- FY17 - MSME Finance94%

FY17 - Private Sector Development

FY17 - Enterprise Development49%
- FY17 - MSME Development49%
FY17 - Jobs39%
- FY17 - Job Creation39%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	15.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	15.00
IDA Commitment	N/A
IBRD + IDA Commitment	15.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	15.00

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

No data available.

Detailed Financial Activity as of April 30, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Nov 15, 2022	IBRD-88220	Int Charges	-18,160.74
May 15, 2023	IBRD-88220	Int Charges	3,956.86
May 15, 2023	IBRD-88220	Int Charges	1,458.63
May 15, 2023	IBRD-88220	Int Charges	2,039.06
May 15, 2023	IBRD-88220	Int Charges	7,761.49
May 15, 2023	IBRD-88220	Int Charges	3,498.69
May 15, 2023	IBRD-88220	Int Charges	1,026.04
May 15, 2023	IBRD-88220	Int Charges	20,307.44
May 15, 2023	IBRD-88220	Int Charges	62,609.27
May 15, 2023	IBRD-88220	Int Charges	77,191.47
May 15, 2023	IBRD-88220	Int Charges	28,455.33
May 15, 2023	IBRD-88220	Int Charges	39,811.29
May 15, 2023	IBRD-88220	Int Charges	6,325.64
May 15, 2023	IBRD-88220	Int Charges	32.42
May 15, 2023	IBRD-88220	Int Charges	632.09
May 15, 2023	IBRD-88220	Int Charges	52.58
May 15, 2023	IBRD-88220	Int Charges	1,040.96
May 15, 2023	IBRD-88220	Int Charges	3,209.38
May 15, 2023	IBRD-88220	Loan Disb	-307,187.78
May 15, 2023	IBRD-88220	Loan Disb	307,187.78
Dec 20, 2023	IBRD-88220	Loan Disb	387,561.70
Dec 20, 2023	IBRD-88220	Loan Disb	549,619.30
Nov 15, 2023	IBRD-88220	Int Charges	33,905.97
Nov 15, 2023	IBRD-88220	Int Charges	47,437.18
Nov 15, 2023	IBRD-88220	Int Charges	7,537.32
Nov 15, 2023	IBRD-88220	Int Charges	10,014.93
Nov 15, 2021	IBRD-88220	Int Charges	233.84
Nov 15, 2021	IBRD-88220	Int Charges	4,628.08
Nov 15, 2021	IBRD-88220	Int Charges	14,268.66
Nov 15, 2021	IBRD-88220	Int Charges	17,591.95
Nov 15, 2021	IBRD-88220	Int Charges	10,264.00
Nov 15, 2021	IBRD-88220	Int Charges	6,026.80
Nov 19, 2021	IBRD-88220	Loan Disb	750,000.00
Nov 19, 2021	IBRD-88220	Loan Disb	131,097.00
May 15, 2022	IBRD-88220	Loan Disb	-1,455,043.80
May 15, 2022	IBRD-88220	Loan Disb	1,455,043.80
May 15, 2022	IBRD-88220	Int Charges	6,588.40
Apr 26, 2022	IBRD-88220	Loan Disb	250,000.00
Apr 26, 2022	IBRD-88220	Loan Disb	323,946.75
Nov 15, 2022	IBRD-88220	Int Charges	74.68
Nov 15, 2022	IBRD-88220	Int Charges	306.99
Nov 15, 2022	IBRD-88220	Int Charges	8,305.23
Nov 15, 2022	IBRD-88220	Int Charges	654.86
Nov 15, 2022	IBRD-88220	Int Charges	12,960.59
Nov 15, 2022	IBRD-88220	Int Charges	39,958.46
Nov 15, 2022	IBRD-88220	Int Charges	49,265.10
Nov 15, 2022	IBRD-88220	Int Charges	18,160.74
Nov 15, 2022	IBRD-88220	Int Charges	74.68
Nov 15, 2022	IBRD-88220	Int Charges	25,406.65
Oct 26, 2022	IBRD-88220	Loan Disb	120,833.33
Nov 15, 2022	IBRD-88220	Loan Disb	-231,192.81
Nov 15, 2022	IBRD-88220	Loan Disb	231,192.81
Mar 3, 2023	IBRD-88220	Loan Disb	307,187.78
Oct 25, 2022	IBRD-88220	Loan Disb	110,359.48
Nov 15, 2022	IBRD-88220	Int Charges	12,960.59
Nov 15, 2018	IBRD-88220	Loan Disb	-37,500.00
Nov 15, 2018	IBRD-88220	Loan Disb	37,500.00
May 15, 2019	IBRD-88220	Loan Disb	742,206.40
May 15, 2019	IBRD-88220	Loan Disb	-742,206.40
May 28, 2019	IBRD-88220	Loan Disb	132,998.84
Aug 29, 2019	IBRD-88220	Loan Disb	655,277.44
Jun 7, 2019	IBRD-88220	Loan Disb	1,500,000.00
May 15, 2019	IBRD-88220	Int Charges	18,052.85
May 15, 2019	IBRD-88220	Int Charges	7,753.28
May 15, 2019	IBRD-88220	Int Charges	725.88
May 15, 2024	IBRD-88220	Int Charges	10,546.80
May 15, 2024	IBRD-88220	Loan Repay	750.00
May 15, 2024	IBRD-88220	Int Charges	7.38
May 15, 2024	IBRD-88220	Int Charges	146.35
May 15, 2024	IBRD-88220	Int Charges	451.21
May 15, 2024	IBRD-88220	Int Charges	556.28
May 15, 2024	IBRD-88220	Int Charges	7,937.62
May 15, 2024	IBRD-88220	Int Charges	49,956.48
May 15, 2024	IBRD-88220	Int Charges	6,619.31
May 15, 2024	IBRD-88220	Int Charges	25,938.16
May 15, 2024	IBRD-88220	Int Charges	1,287.49
May 15, 2024	IBRD-88220	Int Charges	25,482.44
May 15, 2024	IBRD-88220	Int Charges	78,564.12
May 15, 2024	IBRD-88220	Int Charges	96,862.36
May 15, 2024	IBRD-88220	Int Charges	35,706.67
Aug 15, 2024	IBRD-88220	Loan Disb	282,542.10
May 15, 2024	IBRD-88220	Loan Disb	-937,181.00
May 15, 2024	IBRD-88220	Loan Disb	937,181.00
May 15, 2024	IBRD-88220	Int Charges	205.07
May 15, 2024	IBRD-88220	Int Charges	286.89
May 15, 2024	IBRD-88220	Int Charges	45.58
May 15, 2024	IBRD-88220	Int Charges	60.57
Jan 29, 2018	IBRD-88220	Loan Commitment	15,000,000.00
Nov 15, 2022	IBRD-88220	Int Charges	39,958.46
Nov 15, 2022	IBRD-88220	Int Charges	306.99
Nov 15, 2022	IBRD-88220	Int Charges	8,305.23
Nov 15, 2022	IBRD-88220	Int Charges	654.86
Nov 15, 2022	IBRD-88220	Int Charges	-25,406.65
Nov 15, 2022	IBRD-88220	Int Charges	49,265.10
Nov 15, 2022	IBRD-88220	Int Charges	18,160.74
Nov 15, 2022	IBRD-88220	Int Charges	25,406.65
Nov 15, 2022	IBRD-88220	Int Charges	-74.68
Nov 15, 2022	IBRD-88220	Int Charges	-306.99
Nov 15, 2022	IBRD-88220	Int Charges	-8,305.23
Nov 15, 2022	IBRD-88220	Int Charges	-654.86
Nov 15, 2022	IBRD-88220	Int Charges	-12,960.59
Nov 15, 2022	IBRD-88220	Int Charges	-39,958.46
Nov 15, 2022	IBRD-88220	Int Charges	-49,265.10
Nov 15, 2019	IBRD-88220	Loan Disb	-2,288,276.20
Nov 15, 2019	IBRD-88220	Loan Disb	2,288,276.20
Nov 15, 2019	IBRD-88220	Int Charges	15,761.50
Nov 15, 2019	IBRD-88220	Int Charges	31,447.85
Nov 15, 2019	IBRD-88220	Int Charges	688.08
Nov 15, 2019	IBRD-88220	Int Charges	13,618.65
May 5, 2020	IBRD-88220	Loan Disb	101,233.95
May 5, 2020	IBRD-88220	Loan Disb	2,000,000.00
Feb 18, 2020	IBRD-88220	Loan Disb	260,000.00
Feb 18, 2020	IBRD-88220	Loan Disb	460,000.00
May 15, 2020	IBRD-88220	Int Charges	5,063.40
May 15, 2020	IBRD-88220	Int Charges	551.70
May 15, 2020	IBRD-88220	Int Charges	10,919.11
May 15, 2020	IBRD-88220	Int Charges	33,664.36
May 15, 2020	IBRD-88220	Loan Disb	-2,821,234.00
May 15, 2020	IBRD-88220	Loan Disb	2,821,234.00
May 15, 2020	IBRD-88220	Int Charges	14,272.62
Nov 15, 2020	IBRD-88220	Int Charges	19,531.72
Nov 15, 2020	IBRD-88220	Int Charges	24,080.79
May 28, 2021	IBRD-88220	Loan Disb	1,040,000.00
May 15, 2021	IBRD-88220	Int Charges	11,286.86
May 15, 2021	IBRD-88220	Int Charges	235.67
May 15, 2021	IBRD-88220	Int Charges	4,664.55
May 15, 2021	IBRD-88220	Int Charges	14,381.19
May 15, 2021	IBRD-88220	Int Charges	17,730.66
Nov 15, 2020	IBRD-88220	Int Charges	143.53
Jan 31, 2019	IBRD-88220	Loan Disb	262,855.88
Feb 1, 2019	IBRD-88220	Loan Disb	317,350.50
Nov 15, 2018	IBRD-88220	Int Charges	20,298.82
Nov 15, 2018	IBRD-88220	Int Charges	618.04
May 29, 2018	IBRD-88220	Loan Disb	37,500.00
May 29, 2018	IBRD-88220	Fee Charges	37,500.00
Feb 27, 2019	IBRD-88220	Loan Disb	162,000.00
Nov 15, 2023	IBRD-88220	Int Charges	1,690.18
Nov 15, 2023	IBRD-88220	Int Charges	623.04
Nov 15, 2023	IBRD-88220	Int Charges	871.70
Nov 15, 2023	IBRD-88220	Int Charges	138.50
Nov 15, 2023	IBRD-88220	Int Charges	7,659.14
Nov 15, 2023	IBRD-88220	Int Charges	1,222.59
Nov 15, 2023	IBRD-88220	Int Charges	74,602.12
Nov 15, 2023	IBRD-88220	Int Charges	24,197.32
Nov 15, 2023	IBRD-88220	Int Charges	91,977.57
Nov 15, 2023	IBRD-88220	Int Charges	151.80
Nov 15, 2023	IBRD-88220	Int Charges	22.48
Nov 15, 2023	IBRD-88220	Int Charges	444.65
Nov 15, 2023	IBRD-88220	Int Charges	1,370.88
Nov 15, 2020	IBRD-88220	Int Charges	1,554.97
Nov 15, 2020	IBRD-88220	Int Charges	11,450.72
Nov 15, 2020	IBRD-88220	Int Charges	320.08
Nov 15, 2020	IBRD-88220	Int Charges	6,335.12
May 15, 2022	IBRD-88220	Int Charges	8,862.70
May 15, 2022	IBRD-88220	Int Charges	5,458.41
May 15, 2022	IBRD-88220	Int Charges	237.58
May 15, 2022	IBRD-88220	Int Charges	4,701.87
May 15, 2022	IBRD-88220	Int Charges	14,496.23
May 15, 2022	IBRD-88220	Int Charges	17,872.51
Nov 15, 2021	IBRD-88220	Loan Disb	-1,040,000.00
Nov 15, 2021	IBRD-88220	Loan Disb	1,040,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Moderately Satisfactory	2025-02-20
Procurement	Satisfactory	2025-02-20
Project Management	Satisfactory	2025-02-20
Financial Management	Satisfactory	2025-02-20
Monitoring and Evaluation	Satisfactory	2025-02-20
Overall Implementation Progress (IP)	Moderately Satisfactory	2025-02-20

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Number of SMEs getting access to risk capital through the SME Fund Value 0.00 0.00 15.00
Date January 29, 2018 August 31, 2023 January 31, 2024
Comment
Number of guarantees issued for MSME loans through the improved CEF Value 78.00 1720.00 1178.00
Date January 29, 2018 August 31, 2023 January 31, 2024
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Percentage of beneficiaries that feel project activities reflected their needs (Citizen Engagement Indicator) Value 0.00 86.00 75.00
Date January 29, 2018 August 31, 2023 January 31, 2024
Comment
Private capital mobilized Value 0.00 10000000.00 10000000.00
Date January 29, 2018 August 31, 2023 January 31, 2024
Comment

Improvements of the DBJ's institutional capacity in credit risk management of AFIs	Value	The DBJ has limited institutional capacity to scal	The DBJ has adequate systems and expertise in plac	The DBJ has adequate systems and expertise in plac
	Date	January 29, 2018	August 31, 2023	January 31, 2024
	Comment

New business development service platform operational Value No Yes Yes
Date January 29, 2018 August 31, 2023 January 31, 2024
Comment
Volume of risk capital provided to SMEs Value 0.00 0.00 11500000.00
Date January 29, 2018 August 31, 2023 January 31, 2024
Comment
Volume of guarantees provided to MSME loans Value 4412800.00 91580113.00 135954685.00
Date January 29, 2018 August 31, 2023 January 31, 2024
Comment

Number of SMEs getting access to risk capital through the SME Fund	Value	0.00	0.00	15.00
	Date	January 29, 2018	August 31, 2023	January 31, 2024
	Comment

Number of guarantees issued for MSME loans through the improved CEF	Value	78.00	1720.00	1178.00
	Date	January 29, 2018	August 31, 2023	January 31, 2024
	Comment

Private capital mobilized	Value	0.00	10000000.00	10000000.00
	Date	January 29, 2018	August 31, 2023	January 31, 2024
	Comment

Volume of risk capital provided to SMEs	Value	0.00	0.00	11500000.00
	Date	January 29, 2018	August 31, 2023	January 31, 2024
	Comment

Volume of guarantees provided to MSME loans	Value	4412800.00	91580113.00	135954685.00
	Date	January 29, 2018	August 31, 2023	January 31, 2024
	Comment

Access to Finance for MSMEs

Abstract*

Development Objective

Key Details

Project Details

Sectors

Themes

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Project Map

Finances

Financing Plan (US$ Millions)

Total Project Financing (US$ Millions)

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

Detailed Financial Activity as of April 30, 2025

Ratings

IMPLEMENTATION RATINGS

COMPLETION RATINGS

INDEPENDENT EVALUATION RATINGS

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INTERMEDIATE RESULTS INDICATORS