PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

600796

Primary Business Area

Manufacturing, Agribusiness & Services

Disclosure Date

Feb 17, 2016

Country

Jamaica

Region

Latin America and the Caribbean

IFC Approval Date

Jan 12, 2015

Status

Active

Estimated Total Budget

$1,098,265.00
(Project budget includes all project-funded activities)

Last Updated Date

Jul 10, 2022

Project Estimated End Date

Dec 31, 2016

Project Description

The Jamaica Sauces & Spices Project will support Jamaican food processing/exporting MSMEs to establish new linkages to export markets, strengthen collaboration and joint activities among MSMEs to improve supply-side coordination and build MSME capacity to improve food safety standards and certification as well as operational productivity. As a result, MSMEs are expected to save costs and increase sales revenues by increasing quality, diversifying products, and seizing new export market opportunities.

The project is part of the CARIFORUM-EU Economic Partnership agreement (EPA), which aims to make it easier for people and businesses from the two regions to invest in and trade with each other, thus helping Caribbean economies grow and create jobs. It is the first partnership between the European Union (EU) and IFC to work with Advisory Services in Latin America and the Caribbean. IFC will support the implementation of the EPA Capacity Building (EPA)-II program, which aims at improving access of Jamaican products to the rest of the world. This project will focus on Component 1 of the EPA-II program, strengthening the supply side in accessing export markets.

Development Results

E&S Risks / Impacts and Mitigation