IIC contributes to the development of the livestock and poultry sector in Jamaica

08/30/2010

It provides financing for part of the company's working capital requirements

Washington, D.C. - On August 31, 2010, the Inter-American Investment Corporation (IIC) approved a loan of up to US$2 million to Jamaica Broilers Group Limited (JBGL) in Jamaica. This is the IIC's second operation with Jamaica Broilers.

According to David Levy, IIC investment officer in charge of the operation, "With this operation the IIC is not only supporting a key sector in Jamaica's economy but also helping a leading group such as Jamaica Broilers to further improve its efficiency and productivity, which is important for creating jobs and generating foreign exchange. This furthers the IIC’s contribution to the development of the Caribbean."

About Jamaica Broilers Group Limited

JBGL, with a 50-year track record, is one of the largest groups in Jamaica. Its main activities include poultry operations, feed and farm supplies, and ethanol processing. On a much smaller scale, the Group is also involved in electricity cogeneration for its own use and for sale to Jamaica’s public utility company, the sale of balanced feed ingredients, cattle rearing, and processing and sale of beef products and fish. For more information on Jamaica Broilers, visit www.jamaicabroilersgroup.com.

About the IIC

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2009, the IIC reached US$1.4 billion in assets and approved 40 operations channeling US$299.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int.


Contact: David Levy

Telephone: (202) 623-3969

Email: davidl@iadb.org