The EXIM Bank Jamaica and the Development Bank of Jamaica (DBJ) took the occasion of the annual Denbigh Agricultural Show this past weekend to promote a new energy loan facility. The institutions are offering financial solutions for businesses that are deploying energy saving systems or incorporating alternate uses of energy. Funds for this energy loan facility are being sourced through the Development Bank of Jamaica, through their SME Energy Fund.
Loans are available to members of the Agro-processing, Aquaculture, Poultry and Pig farming sub sectors, as well as manufacturers and other members of the wider productive sector who are all eligible to access these funds. Eligible borrowers can apply for funding at a rate of 9.75% for Jamaican dollar loans. US Dollar loans start at 5.63%.
In a recent press release, EXIM said that proceeds of the loan are for the retrofitting of commercial and industrial operations, to make borrowers more energy efficient, to conserve on energy, or simply for the use of alternate sources of energy. In the eligibility criteria, specific emphasis will be placed on electricity conservation and solar energy via photovoltaic energy.
The importance of efficient energy use as a key facet in facilitating increased competitiveness is well documented; as such the introduction of this loan facility is undoubtedly timely.
November 8th, 2010 at 3:16 pm
I am a C.A.S.E graduate and I am interested in setting up an energy efficient Pig farm.The plan is to equip this unit with a bio- digester that will convert the waste to water and gas. these byproducts will be used to wash the pens and provide lighting for the unit respectively. ultimately this gas could be synthesized for the methane which would be sold. the unit would be a source of employment and also be an example for other farmers to see. currently I reside in Trelawny and the land would be acquired by lease. your assistance will be greatly appreciated. APoyser