Entrepreneurs to have access to energy saving tools

Members of the agriculture sector and small hoteliers will benefit from a memorandum of understanding (MoU) between JN Small Business Loans (JNSBL) and Isratech Jamaica Ltd.

Under the terms of the MoU, JNSBL clients will be able to access energy-saving technologies and equipment to mitigate the effects of climate change. In exchange, Isratech will refer its customers who need funding to obtain their equipment to JNSBL for assistance.

The MoU, which is designed to assist small farmers and hoteliers located especially in areas susceptible to the effects of climate change, was signed at the JNSBL head office at 321/2 Duke Street earlier this year.

Thelma Yong, deputy general manager, JNSBL, said that sundry reports indicate that the impact of climate change is being felt in Jamaica through the increased frequency of disasters such as hurricanes and flooding and the erosion of the country's coastlines.

"The effects of these disasters not only destroy crops, but also impact food resources, erode our coastlines, damage communities, and contribute to increased hardships for many, as was experienced in several Caribbean countries during the 2016 hurricane season," Yong said.

"The extended drought the island suffered this year and hot conditions have also had harsh effects on food and water resources, as well as energy costs.

"This MoU gives us an opportunity to assist Jamaicans in acquiring much-needed equipment. And we fully recognise the positive impact this will have on various sectors, especially the agro and tourism sectors, as well as the manufacturing sector and general households. We are also confident this will result in economic growth for our country," Yong said.