December 12, 2008 No. 36/08-BD CDB SUPPORT FOR AGRICULTURE SECTOR IN JAMAICA The Government of Jamaica is to receive a loan equivalent to USD7.8 million from the Caribbean Development Bank (CDB) to assist in enabling it to support access to credit by small farmers and agricultural entrepreneurs. The ultimate objective of this project is to spur food production and underpin economic growth. While the Development Bank of Jamaica will be the executing agency, approximately 800 small farmers will be able to access the funds through the National Peoples' Cooperative Bank and other approved financial intermediaries. The project is expected to induce and support private direct investment in agriculture that will generate new employment and contribute to farm incomes, poverty reduction and further socio-economic development in rural communities. Agriculture is an important sector in the Jamaican economy in terms of its contribution to Gross Domestic Product, foreign exchange earnings and employment generation, particularly in rural communities.