(By 2025) DBJ is recognized as LAC’s foremost development finance institution that drives private sector development and contributes to broad-based, inclusive economic growth in Jamaica.
The Development Bank of Jamaica provides opportunities to all Jamaicans to improve their quality of life through development financing, capacity building, public-private partnership and privatisation solutions in keeping with Government policy.
Who We Are
The Development Bank of Jamaica Limited (DBJ) is a wholly owned Government institution and its only shareholder is the Accountant-General.
The Bank is a result of the merger of two national development entities, the Agricultural Credit Bank Limited and the National Development Bank, on April 1, 2000. The National Investment Bank of Jamaica Limited was further amalgamated into the DBJ in 2006.
What We Do
While the DBJ provides funding and technical assistance to large projects, it has expanded and improved its assistance to micro, small and medium-sized enterprises (MSME) which are widely recognised as the engine of economic growth and development, especially in small economies.
The Bank’s Mission is to provide ‘opportunities to all Jamaicans to improve their quality of life through development financing, capacity building, public-private partnership and privatisation solutions in keeping with Government policy’.
How we do it
The DBJ does not lend funds directly to individuals. Instead, the Bank’s funds are channelled through a network of Approved Financial Institutions (AFI), such as commercial and merchant banks, the Jamaica Credit Union League, the National People’s Cooperative Bank (NPCB), the National Export-Import Bank, and Micro Finance Institutions (MFI), which provide the initial credit evaluation and loan supervision before on-lending to clients.
The relationships with AFI and MFI are critical to the work of the DBJ as, through these institutions and their island-wide network of branches, the Bank’s lines of credit are easily accessible.
Research, Business Analytics & Product Development
The Research, Analytics & Product Development Unit leads the Bank’s research activities while providing support to other departments of the Bank. The Unit provides support by identifying market gaps within the MSME sector, creating and enhancing financial products to fill the identified gaps while developing and maintaining standards, frameworks, models and policies for product development within the organisation.
The Research, Analytics and Product Development Unit also ensures that the DBJ understands its role in driving economic growth and knows which initiatives to support. The Unit also identifies opportunities for DBJ to finance/facilitate economic growth and job creation while developing impact assessment tools for products / projects.
The Unit is also tasked with ensuring that the DBJ team has relevant historical, current and projected economic and financial data to guide decision making while managing the Bank’s performance reporting.