The National Export Import Bank of Jamaica Limited (EXIM Bank) will be lowering its Jamaican-dollar loan rates by 0.5 percentage points and its US dollar by one percentage point for the 2016/17 fiscal year as part of plans to remain a competitive and viable lending institution.
The Jamaican lending rates now stands at 10 to 11 per cent, down from 11.5 per cent; while the US rates are down to between6.5 per cent and 9 per cent, from the initial 7.5 per cent.
According to the Estimates of Revenue and Expenditure for the year ending March 2017, EXIM Bank noted that as a result the repayment of maturing bonds in February 2016 under the National Debt Exchange (NDX), there has been a surge in liquidity and hence the availability of funds for loans to producers and consumers at affordable rates.
Published in the Observer
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