NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

By Karena Bennett

Scotiabank Jamaica has set aside $3 billion as loan financing for women entrepreneurs in a refreshed plan to address what the bank says is the under-representation of women in the business world.

The lending programme – dubbed Scotiabank’s Women Initiative – is the first to be launched in the Caribbean, following the programme launch in Canada in 2018, the home country of the Jamaican bank’s parent company.

Scotiabank will bundle loans to female operators of small and medium-sized businesses, SMEs, with training, advisory services and mentorship. Education and advisory services, if deemed necessary, will be provided free of cost to specific loan recipients.

Photo courtesy of Jeremy KeithFollow.