16 January 2016 - Business View Caribbean
Opening
Lines
IDB to Support Modernization of
Kingston Container Port in Jamaica
The Inter-American Development Bank (IDB) has ap-
proved its largest single non-sovereign guaranteed
transaction in Jamaica with a senior secured loan of
up to US$175 million for Kingston Freeport Terminal
Limited, to finance the optimization and expansion
of Kingston’s container terminal capacity in Jamaica.
The IDB loan will help finance the deepening of the
navigation channel from 13.5 to 14.2 meters, rein-
forcing part of the existing quay, and acquiring new
equipment to expand the terminal capacity from 2.8
million to 3.2 million TEU per year. The upgrades will
increase the port’s competitiveness, enabling it to
