Rural Economic Development Initiative (REDI)
Investing in Rural Communities … Creating Economic Opportunities
On September 3, 2009 the World Bank Board gave its approval for a US$15 million loan to the Government of Jamaica that will fund the Implementation Phase of the REDI Project. Subsequent to this approval, the Government of Jamaica, Managing Director of JSIF and the World Bank signed the Project and Loan Agreements on November 2, 2009 in Washington D.C.
REDI - Objectives & Approach
The Rural Economic
Development Initiative (REDI) aims to improve market access for
micro and small-scale rural agricultural
producers and tourism product and service providers
by:
- Facilitating the
strengthening of the supply chain linkages between the agricultural sector
and end users in processing, the tourism sector, fast food chains,
restaurants and supermarkets.
- Supporting the
development of community based tourism as a viable option and opportunity
for economic investment.
- Strengthening the
capacity of rural groups to be able to plan and implement income- generating
projects.
- Ensuring greater
sustainability of rural development through inter agency collaboration.
REDI - Project Components
REDI will
provide
financial and technical support through grants for eligible projects in two
components:
Component 1 - Agriculture and Rural Tourism Projects
Type A:
Small-scale
revenue generating activities by rural enterprises
(maximum grant funding US$50,000.00).
Type B:
Investments in critical small-scale public infrastructure (maximum
grant
funding US$200,000.00)
Examples of
Potential Component 1 Projects
Agriculture:
-
On-farm
investments in innovations e.g.; green houses, breeding stock improvement,
introduction of new crops and varieties and un-seasonal production methods.
-
Improvement of
infrastructure e.g.; public markets, abbatoirs, storage sheds, fish cleaning
and filleting facilities and equipment.
-
Technological
enhancements to improve productivity e.g drying equipment and drip
irrigation.
-
Provide training
in production, marketing, business and financial management, disaster
mitigation and recovery, among others.
Tourism:
-
Investments in
promotional strategies that will improve competitiveness example: developing
communications materials such as brochures
-
Infrastructure development example; visitor and information centers,
museums, public restroom facilities.
-
Provide training
in marketing, business and financial management, disaster mitigation and
recovery, among others.
Component 2:
implementation
of Technical Assistance and Capacity
Building for
national organizations e.g. RADA, TPDCo,
JAS, Chambers of Commerce, Parish Council, NGOs and other institutions linked to
agriculture and rural tourism to provide support for REDI projects.
Who can access REDI
Groups of persons who are engaged in
existing or new enterprises that are legally registered as a Cooperative,
Benevolent or Friendly Society or groups sponsored by a NGO or community
organization. These include:
-
Rural Tourism, Agricultural Producer and Agro-processing groups
comprised of a minimum 10 persons
- Groups in
agriculture and /or rural tourism
operating at the small and micro-enterprise level with the most
significant potential to deliver economic benefits.
-
New
and existing micro or small business groups in agriculture and /or rural
tourism with an asset base (excluding land and buildings) not exceeding the
equivalent of US$10,000.00 – US$100,000.00 and an annual turnover of less
than the equivalent of US$125,000.00.
How to Access REDI
- Organize a group –
Become a legally registered Cooperative, Benevolent or Friendly Society
by registering with the
Department of Cooperatives and Friendly Society. If you are
already registered, then you are on your way!
- Have a viable business
idea in agriculture and / or rural tourism that supports income generation
and employment creation.
- Apply to JSIF – Obtain
an application form from the JSIF office at 1c-1f
Pawsey Road, Kingston
5, the JSIF website www.jsif.org, RADA
Parish Offices, or TPDCo Regional Offices.