Jamaica to Benefit from Improved Business Climate and Service Delivery
July 7, 2014
WASHINGTON, July 8, 2014— Jamaica’s citizens will benefit from improved service delivery and enhanced business climate as a result of a US$ 37 million project for public sector transformation approved by the World Bank Board of Directors.
The project will improve customs administration and standardization and modernize the public sector by strengthening government capacity and effectiveness in service delivery.
“Without public sector reform, we cannot effectively create the vibrant business environment needed to expand our economy and provide real opportunities for jobs and investment to secure our future,” said Jamaica’s Minister of Finance, Dr. Peter Phillips.
As Jamaica recovers from the effects of the 2008 global crisis, the government has also reaffirmed its commitment to tackle some of the key public sector challenges. This project builds on ongoing efforts in public financial management and customs administration supported by other grants from Canada and the UK Department for International Development (DFID) and implemented by the World Bank.
“Together with the Jamaican government and development partners, we are working to help drive necessary reforms that will increase efficiency and maximize the use of available resources to create a more vibrant business environment and boost the economy,” said Sophie Sirtaine, World Bank Country Director for the Caribbean.
Specifically, the Strategic Public Sector Transformation project will:
- Strengthen the Public Investment Management System and improve monitoring through citizens’ participation;
- Implement Results-Based Budgeting to make more efficient and strategic allocation of resources for public investments;
- Roll out new standard operating procedures for customs to reduce the time and lower transaction costs for trading internationally; and
- Strengthen the Bureau of Standards to provide improved services to the trading community.
This project is financed by an International Bank for Reconstruction and Development (IBRD) loan of US$ 35 million with a final maturity of 29 years and a five year grace period. It also includes a US$ 2.64 million grant from DFID.
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