The U.S. Agency for International Development has entered into partnerships with a Jamaican bank and food processing company as part of its commitment to help grow the Caribbean country’s economy.
The agency will work with the Jamaican National Building Society, one of the country’s oldest banks, to establish the Social Enterprise Boost Initiative, which aims to set up and incubate social enterprises. It is also collaborating with GraceKennedy Ltd. to provide more than 1,000 adults from urban areas in Kingston and Spanish Town with computer and national job skills certification training, as well as low-interest loans to microentrepreneurs.
“These new public-private partnerships are a powerful signal of the Jamaican business community’s commitment to the country’s long-term development,” said Mark Feierstein, USAID’s assistant administrator for Latin America and the Caribbean, in an Oct. 19 news release. “No single donor can prepare young people for school, train new workers or make a community economically viable. We need private sector partners to make our efforts truly transformational.”
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