NEWS

Jamaica Signs US$15-Million Loan For Energy Efficiency Program

Minister of Finance and the Public Service, Hon. Audley Shaw (left); and Senior Vice President, Japan International Cooperation Agency (JICA), Shigeru Maeda, exchanging copies of the co-financing loan contract for the Energy Management and Efficiency Program (EMEP), which they signed on Thursday, (November 23) in the Executive Conference Room at the Ministry of Finance and the Public Service, Kingston. (Photo credit: Adrian Walker)

The Government of Jamaica has signed a US$15-million loan agreement with the Japan International Cooperation Agency (JICA) for the implementation of the Energy Management and Efficiency Program (EMEP).

Minister of Finance and the Public Service, Hon. Audley Shaw explained that the sum is the second portion of a joint loan of US$30 million for the roll-out of the EMEP.

“The aim is to bolster the Government’s efforts in the areas of energy efficiency and conservation through the design and implementation of measures targeting key Government facilities, as well as fuel conservation in road transportation to reduce the demand for fuel imports,” Minister Shaw said.

Senior Vice President, JICA, Shigeru Maeda, in his remarks, said he is pleased with the partnership.

“I am very happy to sign the loan agreement…. I believe that this is a good project for energy conservation, which is important for Jamaica. This program is in accordance with Vision 2030, which is the national development plan of Jamaica and contributes to achieving the outcome in energy security and efficiency. We expect a great synergy effect with this program,” Mr. Maeda said.

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