| Deal Description | The government of Jamaica added the net proceeds from this transaction to its foreign exchange reserves. The funds were to be used to finance capital expenditures on projects for agricultural and industrial development, the improvement of transportation and communications, construction of housing, and other public works. The government created a long-term development plan for 1963-1968. The plan sought to accomplish as fast a rate of growth in the economy as possible, and postulated a 5% annual growth rate. The plan also sought to improve income distribution while maintaining incentives likely to stimulate output. Planned projects included the development of the water supply, drainage and sewage, highway and bridge construction, promotion of tourism, and improvements to education and public health. |
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