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JMA backs call for banks to lower interest rates for SMEs

The Jamaica Manufacturers’ Association (JMA) is backing the call of Finance Minister Audley Shaw, for commercial banks to lower their interest rates on loans to small, micro and medium-sized enterprises (SMEs). 
     
The JMA said it has long been established that minimising existing impediments, such as high interest rates, is imperative to increasing Jamaica’s competitive advantage.
      
The JMA said it joins the minister in appealing to the Development Bank of Jamaica (DBJ) and financial institutions to play their role in advancing the nation’s objectives, by actively reducing spreads to no more than one per cent and three per cent respectively.


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