U.S. assists with Air Jamaica’s privatization

U.S. assists with Air Jamaica’s privatization The U.S. Trade and Development Agency, in collaboration with the International Finance Corp., awarded two grants totaling $820,180 to the Jamaican government to help with the privatization of Air Jamaica.
   The Jamaican Ministry of Finance and the Public Service plans to complete the privatization of the national airline by March 2009.
   Under the first grant, USTDA will fund technical assistance, valued at $480,000, to develop the appropriate legal framework and tendering documents for the privatization. The second grant from the federal agency, valued at $340,180, will fund the development of strategic options and financial modeling of Air Jamaica’s performance, as well as recommendations for environmental abatement measures that will help the airline to meet international standards related to noise and air emissions.
   The primary purpose of USTDA is to advance economic development and U.S. commercial interests in developing middle-income countries. The agency funds various forms of technical assistance, early investment analysis, training, orientation visits and business workshops that support the development of a modern infrastructure and fair and open trade.