DBJ scales M5 Recovery Programme as business financing surpasses J$2B

After mobilising more than J$2 billion in financing approvals to support businesses recovering from Hurricane Melissa, the Development Bank of Jamaica (DBJ) is expanding its flagship M5 Business Recovery Programme with the addition of five new financial institution partners, signalling growing momentum behind one of the country’s most impactful business recovery initiatives.

The expansion reflects both the strong demand for the programme and the confidence financial institutions have in its design and its ability to help businesses recover, rebuild and position themselves for future growth. With nine banking partners now participating, the programme is positioned to reach more businesses, support a wider range of sectors and deepen its impact across communities throughout Jamaica.

JMMB Bank, Barita Merchant Bank Limited, VM Building Society, VM Investments Limited and National Commercial Bank join the programme’s existing financial institution network, strengthening the reach and capacity of the initiative. The expanded partnership will extend the programme’s geographic footprint through a larger branch network, increase participation across key productive sectors and create opportunities for a more diverse range of businesses to access critical recovery financing.

The M5 Programme has already demonstrated success in approvals and disbursements over the past six months, where, since its launch, more than J$2 billion in financing has been approved, with approximately J$846 million disbursed to 66 businesses operating across agriculture, hospitality, distribution and transportation. Behind those numbers are entrepreneurs who have been able to restore operations, protect jobs, replace damaged assets and regain momentum following Hurricane Melissa.

The M5 Programme is further complemented by another DBJ innovation, the ORBIT Loan Programme, which has approved J$1.82 billion in financing across the same financial institution network, with J$971 million already disbursed to 52 businesses. Together, the two programmes are expanding access to capital for MSMEs and creating stronger pathways for business continuity, recovery and long-term growth.

A core feature of the M5 programme is its collateral support component, delivered through DBJ’s Credit Enhancement Facility (CEF). By de-risking transactions for participating financial institutions, the CEF enables businesses that may not qualify under traditional lending arrangements to access the financing they need. This targeted approach continues to unlock capital for viable businesses whose recovery and growth might otherwise be constrained by collateral requirements.

The Bank continues to work closely with participating institutions to ensure they fully understand and leverage the programme’s design to support both new and existing customers. Banking partners have reported positive feedback from clients who have successfully secured financing through the initiative, with a number of approvals made possible because of the programme’s risk-sharing mechanisms and collateral support features.

Speaking at the signing ceremony, DBJ Managing Director, Dr. David Lowe highlighted the critical role partnerships continue to play in delivering meaningful support to Jamaica’s business community.

“The decision by additional financial institutions to join the programme speaks to the value M5 is creating for both businesses and lenders. We have seen firsthand how the right financing, combined with targeted collateral support and risk-sharing mechanisms, can help viable businesses overcome barriers and move forward with confidence. This expansion positions us to reach more entrepreneurs, unlock more opportunities and strengthen Jamaica’s capacity to recover and grow in the face of future challenges,” said Dr Lowe.

The event also recognised two programme beneficiaries, Hjort Henry of HMH Farms and Malik Elliott of Bayguide Transport Limited, whose businesses accessed financing through the M5 Programme following Hurricane Melissa.

For Henry, the financing provided a critical lifeline at a time when recovery seemed uncertain.

“The support came at a critical time for our business. It gave us the resources we needed to continue operating, protect jobs and focus on rebuilding for the future,” he said.

Elliott noted that access to financing enabled his company to stabilise operations and continue serving customers despite the challenges brought on by the hurricane.

“M5 gave us the opportunity to recover and move forward with confidence. It helped us strengthen our business and position ourselves for future growth,” he said.

The addition of five new banking partners represents more than an expansion of the network. It significantly increases the programme’s capacity to reach businesses across Jamaica, extends access to sectors not previously served and creates new opportunities for entrepreneurs who may have faced barriers to financing in the past.

As climate-related events become more frequent and severe, the DBJ continues to work with financial institutions to strengthen Jamaica’s capacity to respond quickly and effectively to business disruption. Through an expanded M5 network and innovative financing solutions, the Bank is building a stronger platform for recovery, resilience and sustainable economic growth.