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(Seated, from left) National Export-Import Bank of Jamaica (EXIM Bank) Managing Director Lisa Bell and Diane Edwards, president of Jamaica Promotions Corp (Jampro), sign a memorandum of understanding (MOU) that cements EXIM's sponsorship for Export Max III. (Standing, from left) Ricardo Durrant, manager — sales and promotions, Jampro; Melissa Bennett, manager, Business Advisory Services, Jamaica Business Development Commission; and Imega Breese McNabb, executive director at Jamaica Manufacturers and Exporters Association look on. The signing took place Thursday, July 30, 2020 at EXIM Bank's office in Kingston. (Photo contributed by Jampro)

Jamaica’s EXIM Bank backs Jampro’s Export Max programme

(Seated, from left) National Export-Import Bank of Jamaica (EXIM Bank) Managing Director Lisa Bell and Diane Edwards, president of Jamaica Promotions Corp (Jampro), sign a memorandum of understanding (MOU) that cements EXIM's sponsorship for Export Max III. (Standing, from left) Ricardo Durrant, manager — sales and promotions, Jampro; Melissa Bennett, manager, Business Advisory Services, Jamaica Business Development Commission; and Imega Breese McNabb, executive director at Jamaica Manufacturers and Exporters Association look on. The signing took place Thursday, July 30, 2020 at EXIM Bank's office in Kingston. (Photo contributed by Jampro)

The National Export-Import Bank of Jamaica (EXIM Bank) yesterday committed JM$5 million in sponsorship to Export Max III, the joint export development programme of Jamaica Promotions Corporation (Jampro), Jamaica Business Development Corporation, and Jamaica Manufacturers and Exporters Association.

Lisa Bell, managing director of EXIM Bank, yesterday, July 30, 2020, confirmed the institution’s support of the programme at its offices in Kingston, after signing a memorandum of understanding (MOU).

“Jamaica’s SME’s are essential to our economy; they provide jobs, innovative products and services, and are also critical to diversifying our export offerings,” she noted.

Lisa Bell, managing director, National Export-Import Bank of Jamaica (Photo: EXIM Bank)

“The Export Max III partners are, therefore, happy that EXIM will be a part of this journey to provide export development support for Export Max companies, and we are optimistic that this assistance will translate to real growth in our exports, and the overall development of business in Jamaica,” Bell continued.

The Export Max journey

Beginning in 2011, the Export Max programme has assisted Jamaican exporters and export-ready companies with capacity-building and market-penetration support. The programme, therefore, aims to build the capacities of the participating companies to help them take advantage of market opportunities and increase export sales.

Jamaica Promotions Corporation kick-started the Export Max programme in 2011 with the aim of building the capacity of export-ready countries. (File photo)

On a national level, Export Max III aims to achieve at least 50 per cent average growth in export sales over three years for participating companies, 100 per cent for companies accessing one new export market, an increase in jobs created by the enterprises, amongst other targets.

Since the launch of Export Max III in 2018, a total of 30 exporters have signed new contracts to supply orders. The programme’s achievements also continue to grow as companies seek new opportunities during the COVID-19 pandemic. Export Max III currently has almost 50 participants.

The EXIM Bank difference

“The Export Max III partners are, therefore, happy that EXIM will be a part of this journey …and we are optimistic that this assistance will translate to real growth in our exports, and the overall development of business in Jamaica”.

— Lisa Bell, managing director, National Export-Import Bank of Jamaica

With the funding from and support of EXIM Bank, Export Max III now gives exporters access to special services, fixed interest rates, reduced fees, market information, and other benefits that will reduce the barriers to exporting for participating companies. Participants in the initiative will, as a result, receive pre- and post-shipment financing, reduced fees for capacity-building initiatives, trade credit financing, among other things.

Jampro President Diane Edwards, who welcomed EXIM Bank’s support of Export Max III, underscored that export development is a critical part of economic growth and it was important for organisations like EXIM, which have significant experience in export facilitation, to be a part of the initiative.

President of Jamaica Promotions Corporation Diane Edwards (File photo)

“Jamaica’s SMEs are essential to our economy; they provide jobs, innovative products and services, and are also critical to diversifying our export offerings. The Export Max III partners are, therefore, happy that EXIM will be a part of this journey to provide export development support for Export Max companies, and we are optimistic that this assistance will translate to real growth in our exports and the overall development of business in Jamaica,” she added.

Jampro — an agency of the Ministry of Industry, Commerce, Agriculture and Fisheries — aims to drive economic development through growth in investment and export.