July 23, 2025
Karisa Ribeiro, Chief of Operations for the Caribbean Region at the Inter-American Development Bank (IDB), says the Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) Programme continues to play a vital role in advancing the growth of numerous micro, small and medium-sized enterprises (MSMEs) across Jamaica.
“To date, over 1,400 MSMEs and 50 ecosystem institutions have received direct assistance through the programme. The beneficiary MSMEs have recorded an average 20 percent increase in sales. BIGEE has had a meaningful impact and has been central to the growth of several MSMEs,” Ms. Ribeiro said.
She shared this update during the Ministry of Industry, Investment and Commerce’s MSME Linkages Day event, held recently at the University of Technology (UTech) in St. Andrew.
Ms. Ribeiro highlighted that coordinated policies, targeted support, and sustained investment are essential to unlocking the full potential of the MSME sector and fostering inclusive economic growth.
BIGEE, a flagship initiative of the Development Bank of Jamaica (DBJ), is designed to empower MSMEs and promote innovation across the country.
The five-year programme, which began in September 2020, is financed by a US$25-million IDB loan and a US$8.2-million grant from the European Union (EU).
Its objective is to strengthen Jamaica’s entrepreneurial ecosystem while supporting MSMEs with funding, technical assistance, and mentorship.
Ms. Ribeiro also noted that the IDB Group, working closely with the Government of Jamaica and other key stakeholders, plans to expand its support for MSMEs.
“We are deeply committed to Jamaica’s economic advancement, and we understand that this goal cannot be met without the continued growth of its MSMEs. That is why we readily partnered again with the country’s leadership on another meaningful initiative that benefits Jamaican businesses,” she said.
Ms. Ribeiro further emphasized that the IDB Group’s commitment extends beyond the BIGEE Programme. The organization remains focused on building an environment where businesses of all sizes are equipped with the tools they need to succeed.
“The IDB Group will continue to use its capabilities to drive strong private-sector participation and deliver integrated public-private solutions worldwide,” she added.
Source: (JIS)
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