CAF and MCDF support Jamaica’s vision for a global logistics hub

The objective of the project is to help Jamaica achieve its vision to have a leading regional logistics center through the modernization of trade and logistics infrastructure, streamlining logistics processes, and improving connectivity. These measures will serve to attract multinational corporations, enhance competitiveness, and strengthen regional integration. Additionally, the program is expected to impact the economy of the Caribbean as a whole.

This initiative aims to capitalize on global changes in supply chain networks, specialized services, and industrial production, leveraging Jamaica's strategic location in the Asia-America maritime corridors to enhance connectivity and access to global markets.

"The partnership with the MCDF is testament to CAF’s belief that collaborative work can amplify the reach and impact of development initiatives in the Caribbean and this, in turn, will result in tangible benefits for the citizens of Jamaica and the wider region. With this MCDF approval, for example, CAF has been able to successfully leverage additional grant funding to support Jamaica’s development priority to position itself as a regional and global logistics hub, which will support enhanced intra and inter-regional connectivity” said Dr. Stacy Richards-Kennedy, CAF’s Regional Manager for the Caribbean.

A central element of the project is attracting foreign direct investment in value-added activities (nearshoring). The plan also includes the development of the Caymanas Special Economic Zone and supporting infrastructure to attract foreign investment, trade, and job creation.

The proposed work has been deemed a top priority by Jamaican authorities and aligns with MCDF’s assistance program for the country and region as well as CAF's strategy for regional cooperation, integration, logistics and connectivity infrastructure.