Financial Institutions in the midst of COVID-19 – It takes cash to care – the words of one former prime minister that perhaps still holds true for Jamaican governments; for small and medium-sized enterprises it certainly takes sufficient capital financing to start and grow a business.
The difficulties in accessing this kind of support has for many decades created significant problems for entrepreneurs ultimately stifling and stymieing national growth.
The need for access to financing now takes on new dimensions in the context of an economic crisis and so in this week’s episode of Beyond the Crisis we examine the role of financial institutions in the process of Jamaica’s economic recovery.
Our first stop was The National Export-Import Bank of Jamaica, usually referred to as the EXIM Bank.
The 35 year old institution which is wholly owned by the government of Jamaica exists to provide financial solutions with a particular focus on small and medium sized enterprises involved in export or the export value chain.
Its Managing Director is Lisa Bell. She spoke to us about how the bank has had to refocus or pivot in the midst of the current COVID-19 crisis.
Watch more Beyond the Crisis HERE