DEVELOPMENT BANK OF JAMAICA (DBJ) TO HOST REGIONAL 2-DAY CONFERENCE ON INFRASTRUCTURE DEVELOPMENT Private sector critical to the process for Economic Growth

The Development Bank of Jamaica (DBJ) today announced that in conjunction with partners it will host a two-day  Conference on Infrastructure Development under the theme:  DELIVERING ECONOMIC GROWTH THROUGH PARTNERSHIP:  Private Sector Participation in Infrastructure Development.
 
This regional conference will be held at the Jamaica Pegasus on March 6 and 7, starting at 8:30 a.m. each day. 
 
 
Set against the background of Caribbean governments looking to Public Private Partnerships (PPPs) and other forms of private sector participation as efficient alternate financing mechanisms for the delivery of public infrastructure, the conference will see local, regional and international experts engaged in panel discussions, presentations and showcasing case studies of successful PPP projects throughout the Caribbean.
 
Speaking at the Press Briefing held in the offices of the DBJ on Monday, February 13, Milverton Reynolds, Managing Director of the DBJ noted that; “Well-developed infrastructure plays an important role in catalysing and facilitating economic growth – which is the Government’s and DBJ’s main focus. The theme of the conference recognises one major enabling role that the private-sector can play in the achievement of the economic growth targets – to develop world class public infrastructure and related services through partnerships with the Government.”
 
Denise Arana, General Manager, PPP & Privatisation at the DBJ stated that; “Many Caribbean countries have been unable to adequately invest in infrastructure to meet their needs due to fiscal constraints. This conference is timely as regional Government’s look towards a greater level of engagement of private sector resources to fill that investment gap through public private partnerships.”
 
 
In a 2014 study funded by the Caribbean Development Bank, it was revealed that the Caribbean faces an estimated US$10B infrastructure investment gap based on projections for 2015-2026.
 
Caribbean countries have engaged creatively with the private sector to deliver projects, however inexperience in developing, financing and executing these complex transactions, both in the private and public sector, is evident.  In an effort to address this issue, private and public sector capacity building efforts are imperative.
 
Mrs. Arana said, “Well-structured and managed PPP projects can deliver high-quality infrastructure projects on-time, within budget and with lower up-front costs to Governments. These mechanisms also allow Governments to encourage and facilitate meaningful private sector led investments in regional economies.”
 
The DBJ and its partners - the Caribbean Development Bank, Pricewaterhouse Coopers; Ernst and Young, the Foundation for Competitiveness & Growth Project, NCB Capital Markets, Airports Authority of Jamaica, Jamaica Money Market Brokers, the Port Authority of Jamaica, the Canadian High Commission, and the PetroCaribe Development Fund have collaborated to bring this international event to Jamaica.