International

Jamaica Committed to Efficient PPP Transactions

Nicola Russell, manager in the Public-Private Partnership and Privatization Division of the Development Bank of Jamaica (DBJ), said the DBJ is committed to ensuring efficient public-private partnership (PPP) transactions.

“The Development Bank of Jamaica is the central implementing agency for the Government of Jamaica’s Public-Private Partnership and Privatisation Programme,” Russell said during a JIS think tank at the agency’s head office, the Jamaica Observer reported April 21. “The DBJ primarily provides transaction management and secretariat support to ministries, departments and agencies in the development of public-private partnership and privatization transactions.”

She pointed out that the DBJ frequently reviews its processes to ensure efficient PPP transactions.

“Within any process or system, there are always things that can be done to improve same and to make the process more efficient. The DBJ is continually reviewing its policy and processes,” she said. “We actually revised our policy in December 2017 to acknowledge the role of the Public Investment Management Secretariat in public-private partnership project transactions.”

Russell said the DBJ does its due diligence when conducting PPP transactions.

“We don’t just look at financial viability but we look at whether the public-private partnership project is legally and technically feasible, socially and environmentally sustainable,” she said.

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