Jamaica secures US$2.1m Green Climate Fund grant as markets and forex stay active

Jamaica is set to receive a US$2.1 million grant from the Green Climate Fund after approval was secured through the Caribbean Community Climate Change Centre, aimed at strengthening national capacity to respond to climate change.

The funding is intended to improve access to international climate finance and help build a pipeline of projects to shield the economy, environment, and livelihoods. It arrives as the country continues recovering from Hurricane Melissa, which caused damage estimated at nearly 57 per cent of gross domestic product, underscoring the need for substantial climate financing.

Climate Change Minister Matthew Samuda said the support is vital for building resilience in the storm’s aftermath. Jamaica is the first CARICOM member state approved under the fund’s readiness strategy launched in 2024.

Separately, research by economist Dr Paul Golding suggests artificial intelligence could place roughly 60,000 jobs in Jamaica at risk. Using International Labour Organization methodology, the study points to data entry clerks, call centre agents, secretaries, and bank tellers as among the most exposed roles.

Dr Golding estimates that between 112,000 men and 144,000 women work in sectors that could be affected, with women likely to face a disproportionate impact. About 22 per cent of the national workforce is exposed to AI-related change, and some positions could eventually be eliminated as the technology spreads.

First Union Financial Company Limited has launched a J$1 billion revolving microloan programme for employees running side businesses. Group General Manager Jonah Lisa Brooks said the initiative responds to growing demand for extra income and entrepreneurship among Jamaicans maintaining full-time jobs.

Brooks said, "We have witnessed a significant increase in employees operating side hustle businesses while maintaining full-time employment. Many Jamaicans are looking for practical ways to supplement their income, support their families, and build a stronger financial future. We recognize that there is a need for dedicated financing program specifically designed to support those ambitions."

On the Jamaica Stock Exchange for the trading session of June 22, 2026, Kentire Holdings Jamaica Limited led activity with 5,845,841 units traded, representing 30.58 per cent of market sales. Trans Jamaica Highway Limited recorded 2,318,360 units, or 12.13 per cent, while Woodcats International Limited saw 1,628,963 units, or 8.52 per cent. Trading remained concentrated in transportation and distribution stocks, reflecting sustained interest in dividend-paying and strategic assets.

Bank of Jamaica figures for the same date show active foreign exchange trading across major currencies. The US dollar sold at J$158.32 and was bought at J$156.74. The Canadian dollar sold at J$111.96 and was bought at J$111.36. The British pound sold at J$292.10 and was bought at J$289.37, with bank spreads on the currency offering short-term trading margins of about J$2.73.