World Bank Approves Additional Financing of US$10 Million to Enhance Jamaicaâs Business Environment
WASHINGTON, February 16, 2021 - The World Bank s Board of Executive Directors approved additional financing of US$10 million for the ongoing Jamaica Foundations for Competitiveness and Growth Project. The additional financing will be used to scale up support for the Government of Jamaica s business climate reform agenda and contribute to Jamaica s economic recoveryby improving the business environment. This additional financing will support initiatives that encourage business growth in Jamaica and strengthen the environment for private sector investment. These changes are more critical now than ever, as the private sector has been hit hard by the economic and social impacts of COVID-19. The additional financing will help Jamaica build back better through support for reforms to make it easier to do business, which will benefit local entrepreneurs, said
The World Bank has approved additional financing of US$10 million for the ongoing Jamaica Foundations for Competitiveness and Growth Project.
The additional financing
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Washington – The World Bank on Monday approved US$13.5 million in additional financing to support efforts to improve education in Guyana, as the coronavirus (COVID-19) pandemic takes a toll on the sector.
The financing is specifically for the ongoing Guyana Secondary Education Improvement Project which aims to improve teaching in mathematics, increase enrolment in secondary schools, and provide equipment and training to support innovative technology-assisted education delivery methods.
The additional financing will also be used to complete construction of two secondary schools, supply resources for those schools, and build a new secondary school.
“Guyana’s education sector has made significant progress in the last decade; however, strengthening learning outcomes remains a priority and the pandemic is hitting the education sector hard,” said Ozan Sevimli, World Bank Resident Representative for Jamaica and Guyana.