The International Finance Corporation (IFC) has agreed to support the Government of Jamaica (GoJ) and signed a memorandum of understanding (MoU) in the development of three key brownfield road segments on the North Coast Corridor of the Caribbean country. The initiative aims to improve the mobility of people and goods as well as strengthen the Jamaican tourism and hospitality sector.

Under the MoU, IFC will help the Jamaican government design and implement a public-private partnership (PPP) transaction-including due diligence, structuring, and implementation-to identify and select a private sector participant to undertake the project. Investors will be expected to finance, build, and operate three road segments of 60 km on the northern coast of the island -Seacastles to Greenwood (6.8 km), Greenwood to Discovery Bay (40.7 km), and Salem to Mammee Bay (12.3 km). The investment amount for the successful completion of the project is estimated to be in the range of US$600 million to US$800 million, depending on the final design.

The project will be supported by the Global Infrastructure Facility (GIF).