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Government of Jamaica

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Government of Jamaica

Category: Press Releases

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More Than USD 1.7 Trillion In Public Procurement Opportunities Available Through Regional Trade Agreements and the WTO GPA

Philippe Pelletier, Legal Affairs Officer at the World Trade Organization (WTO) has announced that USD 1.7 Trillion in value of the market access is available annually under the WTO Government Procurement Agreement (GPA). He was speaking during the second day of the Elevate Procurement Conference which is being held at the Montego Bay Convention Centre from April 23-25, 2024.

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News Updates

Scotia Bank CEO Urges Collaboration and Partnership In Public Procurement

Public and private sector entities are being urged to foster an attitude of collaboration and partnership ahead of the revolutionary changes being made to the public procurement process in Jamaica. The call came during the opening ceremony of the Elevate Procurement Conference held at the Montego Bay Convention Centre on Tuesday, April 23, 2024.

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Jamaica, International Financial Institutions, Donors Collaborate on Establishing a Programmatic Approach to Finance Climate Needs

The Government of Jamaica (GOJ), the Development Bank of Jamaica, the Green Climate Fund (GCF), Inter-American Development Bank (IDB), the World Bank Group, European Investment Bank as part of Team Europe, USAID, and the United Kingdom, are discussing a framework to establish a ‘Blue Green Facility’ –a blended financing structure–of up to USD 500 million over five years, which would include a contribution from the Government of Jamaica. Such a programmatic approach will help catalyze climate finance by introducing systematic, coherent, and scalable approaches towards adaptation and mitigation needs.

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News Updates

Consolidated Update on SSL

The fraud at Stocks and Securities Limited (“SSL”) is of public interest. The Financial Investigation Division has reported that the fraudulent schemes are now estimated to have
affected over 200 accounts and the extent of the fraud exceeds $3 billion in value.

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JAMAICA LARGELY COMPLETES ITS ACTION PLAN AGREED WITH FATF

The Financial Action Task Force (“FATF”) FATF today at its February 2024 Plenary meeting in Paris, approved for their America’s Joint Group to conduct an on-site visit to Jamaica to assess the effectiveness and sustainability of the measures the country has implemented to address its strategic AML/CFT deficiencies outlined in the 13-point action plan agreed with the FATF in February 2020.

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