Direct Lending

The DBJ’s preferred modality for Direct Lending is through syndication or co-financing with AFIs, as well as foreign and local lending agencies/financiers. The Bank may however evaluate, on a case by case basis, requests for direct funding to viable development projects which demonstrate a net economic benefit to the country.

DBJ will lend to both public and private sector enterprises primarily through AFIs.


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The Bank is currently targeting the Information and Communications Technology/Business Process Outsourcing (ICT/BPO) sector in an effort to stimulate economic growth and create jobs.

The Bank’s support to the ICT/BPO sector is being funded by way of a DBJ-PetroCaribe ICT Infrastructure Loan (ICTIL) Facility for the Expansion of the Jamaican Information, Communications and Technology/Business Process Outsourcing Sector

The objectives of the DBJ PetroCaribe ICT Infrastructure Loan (ICTIL) facility are:

  1. The development of at least 350,000 sq. ft. of appropriate ICT-ready space to accommodate Tier 1 operators, specifically within the ICT/BPO sector
  2. The addition of a minimum of 10,000 new ICT jobs to the Jamaican economy
  3. The construction of facilities with a minimum size of 40,000 sq. ft. or a minimum of 800 ICT seats.



The core terms of the facility to direct borrowers are as follows (subject to exceptional approval of variations to terms by the Board):

Terms & Conditions Description
Maximum loan amount per borrower US$5,000,000.00 – representing a maximum of 70% of the total project cost.
Currency United States Dollars
Interest Rate 4.5% per annum on the reducing balance payable monthly.
Tenor Up to a maximum of 12 years with a moratorium of up to 18 months on principal and interest. Interest can accrue during the moratorium period and capitalized at the end of the moratorium period.
Minimum size of each facility 40,000 square feet or 800 seats
Types of projects to be financed a)      construction of new buildings for the specific purpose of use by high-end ICT/BPO/Knowledge Process Outsourcing activities;b)     expansion and renovation of existing buildings for the specific purpose of ICT/BPO/KPO activities



Funding will not be granted for the following purposes:

  • Financing the acquisition of property (land or buildings) except in the case of existing ICT operations where the property will be significantly expanded as part of the project.
  • Refinancing of existing debts.



To be eligible to access the ICTIL, the project promoter shall:

  1. Demonstrate ownership of the building which is to be renovated/retrofitted to house a contact centre, or of the property (Title, Vol /Fol #) upon which the facility will be constructed;
  2. Present a comprehensive business plan, which details the full scope of the project, including but not limited to the financing plan, funding sources, marketing plan, site analysis (geophysical and labour surveys), timetable for implementation and any other information deemed appropriate or necessary and requested by the DBJ at any time during the project appraisal process;
  3. Produce a copy of the Parish Council approval for the proposed construction;
  4. Have a demonstrable track record in business;
  5. Be recommended by JAMPRO as a suitable candidate to access this loan funding. The minimum capacity to be constructed per project under the ICTIL is 40,000 sq. ft. or a minimum of 800 seats.

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Applications from project sponsors must be first directed to JAMPRO which will be responsible for the screening of the candidates for the ICTIL through, inter alia, the commissioning of due diligence and credit checks, as well as reviews of the promoters’ track record in the ICT sector.

JAMPRO will thereafter confirm to the DBJ that the proposed facility and location are in conformity with JAMPRO’s targeted criteria for the development of ICT space.


The DBJ has adopted the tiered modeling which assesses a financial institution’s ability to be accredited as an AFI. Institutions interested in participating in the on-lending programme, may submit the following:

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  • Copy of licence to operate under the Banking Act, Financial Services Commission Act, Cooperative Societies Act or the Agricultural Credit Board Act.
  • Copies of Memorandum and Articles of Association
  • Copy of Certificate of Incorporation
  • Latest three years’ audited Financial Statements
  • Latest in-house Financial Statements
  • Profiles of Directors and Senior Officers
  • Shareholding structure of the organization
  • Organizational chart or description of the organizational structure
  • A statement on the institution’s technical capability in terms of appraising and monitoring projects
  • A statement on the institution’s loan administration/credit policies
  • TRN


N.B. New AFIs would need to have a Borrower’s Risk Rating (BRR) of at least 5 (described as “acceptable”) to be accredited as a DBJ AFI.



As at 31 March 2015 the total outstanding loan portfolio of the Bank stood at J$15,076 million, and was distributed as follows:


Mar-2015 J$ J$
Loans to NPCB 1,030,416,905 9.8%
Loans to AFIs 9,297,089,504 61.7%
Loans to MFIs 811,269,842 5.4%
Loans to Direct Clients 3,937,071,123 26.1%
Grand Total 15,075,847,374 100.0%


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This represents a 15% increase over the J$13,172 million recorded at March 31, 2014, following a 27% growth over the $10.4 billion for the financial year ended 31 March 2013.

At the end of the year, the Bank had $4.5 billion in other loans approved but not fully disbursed for projects at various stages of implementation. This was made up of J$1.05 billion and US$30 million – compared with J$1.3 billion and US$17.9 million at March 31, 2014.