Headlines:
| US$65mil loan to improve JA’s social services |
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| Wednesday, 14 May 2008 | |
The World Bank has approved three loans to Jamaica valued
at US$65 million or more than J$4 billion.The loans which were approved Tuesday will be used to support Jamaica's efforts to strengthen its social security safety net, improve social services for children and finance HIV/AIDS prevention and control. They are to be repaid in 30 years. The payment schedule includes a five year grace period. The first loan of US$10 million is to help implement the Government's HIV/AIDS Program by supporting prevention efforts targeting high risk groups. A portion of the money will be used to increase access to treatment as well as provide care and support services for infected and affected individuals. The second loan which amounts to US$40 million will go to the Social Protection Project. It will be used mainly to boost the PATH Programme and reform the public sector pension scheme. The third loan is for US$15 million to be used to co-finance the implementation of Jamaica's National Strategic Plan for Early Childhood Development. The programme among other things provides for early screening and diagnosis of at-risk children. |