May 17, 2010 No. 18/10-BD CDB APPROVES STUDENT LOANS FUNDING FOR JAMAICA The Students' Loan Bureau (SLB) of Jamaica is to receive a loan equivalent to USD20 million from the Caribbean Development Bank (CDB). The Bank's Board of Directors approved the loan to enable SLB to provide loans to eligible students under CDB's Student Loan Scheme (SLS). The project is expected to contribute to the national goal of poverty reduction and sustainable economic development through human resource development, by upgrading the skills of at least 5,000 persons in tertiary level technical, vocational and professional programmes. In turn, this training is expected to contribute to increased employment and reduce poverty among households of poor and vulnerable persons. The provision of student loans to this sector of the society has proven to be an effective mechanism to achieve this goal. SLB projects a total of USD100 million in new student loan approvals in the five-year period 2010-2014. BORROWERStudents' Loan Bureau (SLB)COUNTRYJamaicaEXECUTING AGENCYGovernment of JamaicaLOAN AMOUNTUSD20 mnSUMMARY OF PROJECT DESCRIPTIONThe project will contribute to the national goal of poverty reduction and sustainable economic development through human resource development by upgrading the skills of at least 5,000 persons in tertiary level technical, vocational and professional programmes.BENEFITSThe project will contribute to increased employment and reduce poverty among households of poor and vulnerable persons. The provision of student loans to this sector of the society has proven to be an effective mechanism to achieve this goal.BORROWERStudents' Loan Bureau (SLB)COUNTRYJamaicaEXECUTING AGENCYGovernment of JamaicaLOAN AMOUNTUSD20 mnSUMMARY OF PROJECT DESCRIPTIONThe project will contribute to the national goal of poverty reduction and sustainable economic development through human resource development by upgrading the skills of at least 5,000 persons in tertiary level technical, vocational and professional programmes.BENEFITSThe project will contribute to increased employment and reduce poverty among households of poor and vulnerable persons. The provision of student loans to this sector of the society has proven to be an effective mechanism to achieve this goal.