EXIM secures US$20m from PetroCaribe Fund - Business - Jamaica Gleaner - Friday | January 27, 2012
The National Export-Import Bank of Jamaica has signed a US$20-million loan agreement with the PetroCaribe Development Fund (PDF) for on-lending primarily to small and medium-size businesses in the productive sector.
An immediate spin-off of the loan is that SMEs operating in the productive sector will now be able to benefit from a new accelerated processing initiative, which allows them to access working capital within five working days for short-term loans and 15 working days for medium-term loans, EXIM said in a statement on Wednesday.
Businesses can access up to a maximum of J$40 million under the accelerated loan programme, which runs until March 30.
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