{"id":25042,"date":"2022-11-10T22:31:08","date_gmt":"2022-11-11T03:31:08","guid":{"rendered":"https:\/\/projectcalls.com\/dev?p=25042"},"modified":"2022-11-11T10:45:14","modified_gmt":"2022-11-11T15:45:14","slug":"jamaica-signs-financial-advisory-services-agreement-with-the-ifc","status":"publish","type":"post","link":"https:\/\/projectcalls.com\/dev\/jamaica-signs-financial-advisory-services-agreement-with-the-ifc\/","title":{"rendered":"Jamaica Signs Financial Advisory Services Agreement with the IFC"},"content":{"rendered":"<p>Jamaica<\/p>\n<p>The Government of Jamaica has entered into a Financial Advisory Services Agreement (FASA) with the International Finance Corporation (IFC) to develop the North Coast Highway Project.<\/p>\n<p>The US$800-million agreement was signed by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, and IFC Managing Director, Makhtar Diop.<\/p>\n<p>A FASA details the permissions granted to an advisor by their client, for the purpose of creating a legal consulting arrangement.<\/p>\n<p>The FASA is further to the Memorandum of Understanding (MOU) signed between the Government and the IFC in April, in relation to the same project.<\/p>\n<p>According to Dr. Clarke, \u201cLast year we signalled that the Government would leverage the improvement in Jamaica\u2019s macro-economy to utilise an improved modality for highway infrastructure procurement that is open, competitive and transparent.<\/p>\n<p>\u201cWith enhanced fiscal credibility and entrenched stability, Jamaica is now in a position to put together a complex transaction of this nature with the realistic prospect of attracting large international firms to compete,\u201d he pointed out.<\/p>\n<p>The Minister further stated that the Government is pleased to enter into this definitive agreement with the IFC, whereby they will advise on the structuring and execution of the transaction.<\/p>\n<p>The FASA details that IFC will provide a full-service advisory that assists the Government in all steps of project structuring and implementation to successful closure of the expansion, improvement and maintenance of the Mammee Bay to Salem (12.3km), Seacastles to Greenwood (6.8km) and Greenwood to Discovery Bay (40.7km) road segments.<\/p>\n<p>These services include detailed technical, legal, financial environmental and social studies, designing the bidding process, and implementing a competitive tender that results in a bankable project for investors that meets clear public-sector goals.<\/p>\n<p>Additionally, working with the IFC may also allow the Government to access grant resources that can help finance the cost of this advisory service.<\/p>\n<p>IFC\u2019s Regional Director for the Caribbean, Mexico, Colombia and Central America, Martin Spicer, said the project will open new paths for Jamaica\u2019s social and economic development.<\/p>\n<p>\u201cIFC has extensive expertise in public-private partnerships for large infrastructure projects, and we are confident that this project will be an important boost for tourism and open up new areas for economic development in Jamaica,\u201d he added.<\/p>\n<p>Financial Secretary, Darlene Morrison; Director General, Planning Institute of Jamaica (PIOJ), Dr. Wayne Henry, as well as other senior members from IFC attended the signing ceremony.<\/p>\n<p>The signing was done during the International Monetary Fund\/World Bank Annual Meetings being held in Washington DC, USA.<\/p>\n<p>Dr. Clarke is also meeting with other multilateral partners on Jamaica\u2019s economic programmes, as well as with international credit rating agencies and investment banks.<\/p>\n<p>\u00a0<\/p>\n<p><a href=\"https:\/\/jis.gov.jm\/jamaica-signs-financial-advisory-services-agreement-with-the-ifc\/\" target=\"_blank\" rel=\"noopener\">more<\/a><\/p>\n<p>\u00a0<\/p>\n<p><em>image: pexels-andrea-piacquadio<\/em><\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jamaica The Government of Jamaica has entered into a Financial Advisory Services Agreement (FASA) with the International Finance Corporation (IFC) to develop the North Coast Highway Project. The US$800-million agreement&#8230;<\/p>\n","protected":false},"author":1091,"featured_media":24583,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[250],"tags":[173,237,124,146],"class_list":["post-25042","post","type-post","status-publish","format-standard","has-post-thumbnail","category-articles","tag-contracts","tag-financial-services","tag-jamaica","tag-procedures"],"aioseo_notices":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2022\/10\/pexels-andrea-piacquadio-3760067-1-scaled-e1665684918196.jpg?fit=1024%2C683&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6u9Qa-6vU","jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":25272,"url":"https:\/\/projectcalls.com\/dev\/cdb-idb-world-bank-endorse-jamaicas-procurement-system\/","url_meta":{"origin":25042,"position":0},"title":"CDB, IDB, World Bank Endorse Jamaica\u2019s Procurement System","author":"Mayra Bonilla Lopez","date":"November 24, 2022","format":false,"excerpt":"Jamaica Three International Financial Institutions (IFIs) have endorsed the Government of Jamaica\u2019s new electronic procurement system. Electronic procurement or e-procurement is the process of requesting, ordering and purchasing goods and services digitally utilising a system accessible by registered users. The innovation - which was implemented to support the process of\u2026","rel":"","context":"In &quot;Articles&quot;","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2022\/10\/pexels-soumil-kumar-735911-scaled-e1666942765270.jpg?fit=1025%2C684&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2022\/10\/pexels-soumil-kumar-735911-scaled-e1666942765270.jpg?fit=1025%2C684&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2022\/10\/pexels-soumil-kumar-735911-scaled-e1666942765270.jpg?fit=1025%2C684&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2022\/10\/pexels-soumil-kumar-735911-scaled-e1666942765270.jpg?fit=1025%2C684&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":32030,"url":"https:\/\/projectcalls.com\/dev\/utech-bsj-signs-mou-for-research-services-in-trade-industry\/","url_meta":{"origin":25042,"position":1},"title":"UTech, BSJ signs MOU for research services in trade industry","author":"Mayra Bonilla Lopez","date":"January 11, 2024","format":false,"excerpt":"Jamaica The University of Technology, Jamaica inked an agreement with Bureau of Standards Jamaica (BSJ) for the procurement of research services geared towards a Regulatory Impact Assessment of the country's trade sector. The agreement came into effect on Friday, December 15, 2023, following the signing of a memorandum of understanding\u2026","rel":"","context":"In &quot;Articles&quot;","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2024\/01\/pexels-pixabay-356065-scaled-e1705336568454.jpg?fit=1024%2C732&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2024\/01\/pexels-pixabay-356065-scaled-e1705336568454.jpg?fit=1024%2C732&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2024\/01\/pexels-pixabay-356065-scaled-e1705336568454.jpg?fit=1024%2C732&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2024\/01\/pexels-pixabay-356065-scaled-e1705336568454.jpg?fit=1024%2C732&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":25617,"url":"https:\/\/projectcalls.com\/dev\/govt-looking-to-further-refine-the-public-procurement-regime\/","url_meta":{"origin":25042,"position":2},"title":"Gov\u2019t Looking to Further Refine the Public Procurement Regime","author":"Mayra Bonilla Lopez","date":"December 22, 2022","format":false,"excerpt":"Jamaica Having addressed the bottleneck issue within the public procurement process, the Government is now focusing on eliminating the incidence of duplications, among other impediments. This was disclosed by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, while speaking during Wednesday\u2019s (November 30) handover ceremony for\u2026","rel":"","context":"In &quot;Articles&quot;","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/08\/Contract-agreement-signature-Pixabay-Pexels.jpeg?fit=1024%2C768&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/08\/Contract-agreement-signature-Pixabay-Pexels.jpeg?fit=1024%2C768&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/08\/Contract-agreement-signature-Pixabay-Pexels.jpeg?fit=1024%2C768&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/08\/Contract-agreement-signature-Pixabay-Pexels.jpeg?fit=1024%2C768&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":22205,"url":"https:\/\/projectcalls.com\/dev\/new-agreement-to-accelerate-financing-for-climate-projects-in-the-caribbean\/","url_meta":{"origin":25042,"position":3},"title":"New agreement to accelerate financing for climate projects in the Caribbean","author":"Mayra Bonilla Lopez","date":"May 19, 2022","format":false,"excerpt":"Jamaica \u00a0The European Investment Bank (EIB) and the Inter-American Development Bank (IDB) have signed a new agreement enabling them to better support climate resilient projects throughout Latin America and the Caribbean. They said the Mutual Reliance Agreement will improve project implementation and monitoring, empowering the EIB and the IDB to\u2026","rel":"","context":"In &quot;Articles&quot;","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2022\/05\/pexels-marta-ortigosa-3480494-scaled-e1652989694340.jpg?fit=1024%2C683&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2022\/05\/pexels-marta-ortigosa-3480494-scaled-e1652989694340.jpg?fit=1024%2C683&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2022\/05\/pexels-marta-ortigosa-3480494-scaled-e1652989694340.jpg?fit=1024%2C683&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2022\/05\/pexels-marta-ortigosa-3480494-scaled-e1652989694340.jpg?fit=1024%2C683&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":34551,"url":"https:\/\/projectcalls.com\/dev\/govt-of-jamaica-procurement-awards-to-be-established\/","url_meta":{"origin":25042,"position":4},"title":"Gov\u2019t of Jamaica Procurement Awards to Be Established","author":"Mayra Bonilla Lopez","date":"June 6, 2024","format":false,"excerpt":"Jamaica The Government of Jamaica (GOJ), through the Ministry of Finance and the Public Service, is looking to establish the GOJ Procurement Awards. This initiative aims to celebrate excellence and innovation in the public procurement system across various entities, according to Portfolio Minister, Dr. the Hon. Nigel Clarke. He was\u2026","rel":"","context":"In &quot;Articles&quot;","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2024\/06\/pexels-n-voitkevich-6120403-scaled-e1717722439707.jpg?fit=1024%2C683&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2024\/06\/pexels-n-voitkevich-6120403-scaled-e1717722439707.jpg?fit=1024%2C683&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2024\/06\/pexels-n-voitkevich-6120403-scaled-e1717722439707.jpg?fit=1024%2C683&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2024\/06\/pexels-n-voitkevich-6120403-scaled-e1717722439707.jpg?fit=1024%2C683&ssl=1&resize=700%2C400 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts\/25042","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/users\/1091"}],"replies":[{"embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/comments?post=25042"}],"version-history":[{"count":2,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts\/25042\/revisions"}],"predecessor-version":[{"id":25047,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts\/25042\/revisions\/25047"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/media\/24583"}],"wp:attachment":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/media?parent=25042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/categories?post=25042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/tags?post=25042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}