Business View Caribbean - October 2015 21
include:
• 750km of upgraded single-lane roads, including
30-40 bridges
• 20 large water production, storage and transmis-
sion systems
• 75km of sea and river defenses
• 15 ports upgraded by providing specialist equip-
ment to speed up freight movements
• 30 solid waste management projects for major cit-
ies/communities
EXPORT FINANCE
To further encourage UK-Jamaica business links, the
government will also extend
£
100 million in export
finance to Jamaica. With UK exports to the Carib-
bean totaling
£
1.1 billion and bilateral trade at
£
2.55
billion in 2014, the UK is the number one export des-
tination for much of the Commonwealth Caribbean.
UK Export Finance will now be able to consider me-
dium and long term financing options for private and
public sector borrowers in the UK, looking to invest
in Jamaica.
The government will also provide an additional:
•
£
30 million to strengthen hospital infrastructure so
they are more structurally resistant to natural disas-
ters.
•
£
30 million to support governments in the region
to improve the management of their public finances
so that they can improve their own public services.
This funding will be available immediately.
The Infrastructure Fund will be available to 8 Com-
monwealth countries in the region eligible for ODA
(official development assistance): Jamaica, Guyana,
Belize, Dominica, Grenada, St Lucia, Antigua and
Barbuda and St Vincent & the Grenadines; as well
as Montserrat as an ODA-eligible Overseas Territory.
The Smart Hospitals Program will build on a suc-
cessful
£
8.4 million pilot programme with new
funding of
£
30 million. Funding will be available to
7 ODA-eligible Commonwealth countries in the re-
gion: Jamaica, Guyana, Belize, Dominica, Grenada,
St Lucia and St Vincent & the Grenadines.
The “skills for growth” economic programme is
aimed at the 5 ODA-eligible countries in the Eastern
Caribbean: Antigua & Barbuda, Dominica, Grenada,
St Lucia and St Vincent & the Grenadines. These
programmes will:
•
support governments in the region to get
public finances under control while improving public
services
•
support governments to make their coun-
tries more attractive to investors and for business to
grow, creating more jobs and tax revenue
•
work in partnership with both the public and
private sector to address the shortage of critical
skills which is constraining economic growth and
employment
DfID’s current programme from 2011 also includes
security and justice, climate change and disaster re-
silience work.
