Minister of Finance, Audley shaw, has announced that instructions have been issued to the Students Loan Bureau (SLB) to lower its lending rates. An official announcement will reportedly be made soon on the rate adjustments. The expected rate adjustments are part of an overall interest rate reduction strategy being pursued by the Jamaica Government, as part of its overall economic policies and strategies.
Additionally, the Student’s Loan Bureau is to get a major capital injection in order to help it adequately meet the expected increase in the demand for loans during the next academic year. Minister Shaw said that additional funding for this capital injection has been identified, and negotiations are in progress with overseas financial institutions to provide the Student’s Loan Bureau will additional support. Additionally, the Government is also looking to the United States and the European Union to access additional funding for the Student’s Loan Bureau.
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