Gov’t to sign $20M loan agreement with World Bank for Unemployment Insurance Scheme implementation

The Unemployment Insurance Scheme announced by the government last year, is to be implemented in the upcoming financial year, through a 20 million dollar loan agreement with the World Bank.

The announcement was made yesterday, by Finance Minister Dr. Nigel Clarke during the opening of the Budget Debate.

Citing the experience of Covid-19 during which thousands of Jamaicans lost their jobs, the Minister noted that the programme will provide temporary income support to registered employees of the National Insurance Scheme.


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