Story Highlights

• “We are seized of the importance of the Microcredit Act. We have (several) pieces of legislation, of which the Microcredit Act is an important component, that we intend to table in the House of Parliament. I can definitely give you the assurance… (that) the Microcredit Act will be tabled… over the next 12 months,” he said.
• He said, however, that MSMEs often encounter myriad challenges, ranging from high levels of business informality, difficulty in accessing capital, and issues relating to the availability of suitable and adequate collateral for borrowing.
• The Government of Jamaica’s National Financial Inclusion Strategy, which was launched in March 2017, is an ambitious portfolio of project activities designed to empower Jamaicans financially, through improved access to financial information and products to meet their needs.