Prime Minister Dr. Andrew Holness announces lowering of threshold for investments under the Fast Jamaica aspect of NARRA

Prime Minister Dr. Andrew Holness has announced the lowering of the threshold for investments under the Fast Jamaica aspect of the National Reconstruction Initiative.

He made the statement in Parliament today as he opened the debate on the National Reconstitution and Resilience Authority, NARRA, Bill.

The Facilitated Acceleration of Strategic Transformation (Fast Jamaica) will establish a dedicated pathway to fast track strategic priority investment projects critical to Jamaica economic transformation that can commence implementation within a year and could be integrated into the NARRA, network of projects.

Initially, the Government said the threshold was US$150 million or more.

Dr. Holness said the threshold has been lowered to US$15 million.

The Prime Minister noted that the Fast Initiative allows Jamaica to benefit from private investments that normally would have been awarded to other countries.