The world bank is providing $2.5 million to support private sector energy efficiency efforts in Jamaica. The funds from its World Energy Security and Efficiency Project will support a pilot energy efficiency financing mechanism that will give the private sector access to renewable and energy efficient equipment.
If the pilot scheme is successful, additional resources could be made available, said Jamaican Minister of Energy and Mining, James Robertson.
Robertson also announced that the Development Bank of Jamaica (DBJ) has earmarked $700 million from the Caribbean Development Bank’s (CDB) Agricultural Support Fund as credit for energy efficiency and conservation measures, along with $500 million for SMEs.