The World Bank Group has endorsed Jamaica’s aim to become the logistics hub for the Caribbean, Latin America and U.S. Gulf and East coasts by pledging to help find funding for the pioneering project.
Giorgio Valentini, World Bank Group representative to Jamaica, called the logistics hub initiative “transformational” during a recent speech in Kingston.
“It is important to emphasize that the hub is not just about the port, it involves many moving parts and will significantly enhance Jamaica’s potential for growth,” he said.
Jamaica’s government aims to turn the island nation into a logistics hub like Rotterdam, Singapore, and Dubai, aligned to the pending widening of the Panama Canal.
Jamaica Industry Minister Anthony Hylton is scheduled to lead a mission to Washington next week to continue talks with the World Bank Group on additional areas of collaboration and support, as well as with international investors who have expressed an interest in the logistics hub initiative.
A 16-person delegation from the World Bank visited Jamaica and has already started to provide technical assistance in the development of the master plan for the logistics hub. A framework for the master plan is due to be released by June 30. - Eric Johnson