JMMBGL, IDB Invest explore funding partnership

The JMMB Group Ltd (JMMBGL) is exploring a funding partnership with the Inter-American Development Bank (IDB) Invest to help boost its strategic initiatives.

In a release published on the TT Stock Exchange, JMMBGL said this partnership could provide potential financing up to US$100 million towards its growth and developmental efforts.

This would include support for JMMBGL's micro, small and medium enterprises (MSME) initiatives, contribute to its green loan portfolio in Jamaica and complement the group's digitalisation strategies.

JMMBGL said it recognises the significant responsibility that accompanies this potential engagement. The actual completion of the transaction is contingent upon various factors, including but not

limited to market conditions, authorisations and approvals, and the satisfaction of customary closing conditions.

"This disclosure serves as notice of intent, recognising the inherent uncertainties in such transactions as it remains committed to maintaining the highest levels of transparency and accountability throughout this process," the release said.

JMMBGL also advised that this disclosure is made in the best interest of public transparency and does not constitute a commitment from either party to execute.