The Inter-American Development Bank (IDB), was formed in 1959 as an initiative of the Latin American and Caribbean countries, with the aim of assisting in the economic development of the region.
The IDB provided financing to the Jamaica Social Investment Fund (JSIF) in the form of a US$10 million loan. On July 25, 1997, the Government of Jamaica (GoJ) and the IDB signed Loan Contract No. 1005/OC-JA which expired on July 31, 2002. The loan was to contribute to the reduction of poverty and assist in creating an environment for sustainable national development. In addition to directly financing community projects, IDB funding was also used to strengthen the capacity of the JSIF to successfully complete these projects.