DBJ Launches $10-Billion M5 Recovery Programme to Rescue Businesses Shattered by Hurricane Melissa

KINGSTON, Jamaica — With businesses across the island reeling from the crippling impact of Hurricane Melissa, the Development Bank of Jamaica (DBJ) has rolled out a massive $10-billion M5 Business Recovery Programme aimed at stabilising and rebuilding key sectors of the economy.

Managing Director Dr David Lowe unveiled the programme during a press briefing at Jamaica House on November 26, noting that the initiative is designed to provide fast, flexible and targeted financial support to enterprises hardest hit by the Category 5 storm.

Under the programme, qualifying businesses in agriculture, manufacturing, distribution, and tourism can access between $20 million and $50 million through DBJ’s partner institutions — including approved financial institutions (AFIs) and microfinance institutions (MFIs).

Lowe said the support framework centres on three critical windows: refinancing, rebooting, and rebuilding.

“The first we have coined the refinance window,” he explained. “These are businesses indirectly affected that already have credit facilities, and we are assessing terms, relaxing certain issues, and giving them breathing space.”

The reboot window, described as a “light touch,” targets businesses with short-term recovery needs — from replenishing inventory to repairing minor infrastructure damage — enabling them to quickly return to pre-storm operations.

But the most vital component, Lowe stressed, is the rebuild window, aimed at businesses facing total disruption.

“These are businesses that have pretty much been totally disrupted,” he said.

Broad Consultations, Tailored Response

Immediately after Hurricane Melissa, the DBJ held rapid-response consultations with loan beneficiaries, AFI partners, commercial banks, MFIs, the Small Business Association of Jamaica, the Jamaica Manufacturers and Exporters Association, the Jamaica Chamber of Commerce, and other stakeholders.

Lowe said these discussions were essential in identifying the real-world challenges facing various sectors.

He noted the bank’s commitment to making access to credit easy, frictionless, and fully supported by the financial sector.

Grants, Innovation, and Collateral Support

In addition to loan facilities, the DBJ will also incorporate a grant programme to support innovation and resilience-building within affected industries.

Further, with many commercial buildings destroyed or severely damaged, the bank will introduce credit collateral support, covering up to 80 per cent cash-secured collateral, enabling banks to confidently lend to eligible businesses that may temporarily lack traditional collateral.

Funding Breakdown: Three Phases

Dr Lowe outlined the structure of the $10-billion programme:

• Phase 1: A $1-billion fund, immediately available to all AFIs and MFIs, sourced from DBJ’s current balance sheet.
• Phase 2: A $3-billion allocation, newly approved by Cabinet to expand support coverage.
• Phase 3: A further $7 billion, dedicated to rebuilding key sectors, supply chains, and other economic actors affected by the hurricane.

Lowe said the M5 Business Recovery Programme is designed not only to help businesses recover but to strengthen their resilience ahead of future disasters.

“We want to encourage innovation. We want to encourage things that can bring greater levels of resilience,” he added.

With Melissa’s economic fallout still unfolding, the DBJ’s intervention is expected to serve as one of the most significant catalysts in Jamaica’s national recovery effort.

Featured image: Managing Director, Development Bank of Jamaica (DBJ), Dr David Lowe