Lagrange Johnson
JAMAICA IS just shy of reaping the benefits of almost $500 million under a United States grant assistance development mechanism, which offers financial aid to countries that meet certain criteria.
The disclosure was made by U.S. Ambassador Brenda LaGrange Johnson on Wednesday night during her address to 3M Jamaica's 35th Anniversary Awards Banquet and Innovation Fair at the Hilton Kingston hotel in New Kingston.
The scheme in question is U.S. President George W. Bush's Millennium Challenge Account (MCA).
GOOD POLICIES
"Jamaica is close to meeting the MCA indicators but falls just short in certain categories," Ambassador LaGrange Johnson said. "The amount available to Jamaica could be as high as $450 million, which could all go towards whatever the Jamaicans decide on."
To qualify for the grants, countries like Jamaica need to have good policies that support growth, reduce poverty and make assistance effective.
RULING JUSTLY
Ambassador LaGrange Johnson said the Millennium Challenge Corporation (MCC) works with countries performing better than their peers in 16 indicators. She explained that the required gauges measure "ruling justly, investing in their citizen's health and education and encouraging economic freedom."
She pointed out that, while Jamaica does many of these things well, there are areas where the country can improve.
Ambassador LaGrange Johnson challenged the nation's business leaders to foster dialogue with the political directorate on the steps Jamaica can take to access the opportunity.
To date, pacts signed with the Millennium Challenge Corporation (MCC) total nearly US$1 billion. "In this region alone Nicaragua has signed an agreement for $175 million and Honduras for $215 million," she said.
Mrs. LaGrange Johnson also emphasised that the funds available under the MCA are not given on credit and do not leave a country with long-term debt. "These are grant funds, not loans, they do not have to be repaid," she explained.
Countries are allowed to spend the grants on programmes that it chooses in consultation with civil society and the private sector.
"Who knows what Jamaicans needs better than Jamaicans. MCA countries pick their own priorities and choose their own programmes for MCA assistance," she said.
