International Finance Corporation and Jamaica have signed an agreement for a public private partnership project to upgrade three brownfield road segments from two to four lanes in the North Coast of Jamaica.
Under the agreement, IFC will be a lead advisor and will work with the government to structure the PPPproject and attract a private investor. The private partner will finance, build, operate and maintain the three road segments:
- Seacastles—Greenwood (6.8 km);
- Greenwood—Discovery Bay (40.7 km);
- Salem—Mammee Bay (12.3 km).
The project is funded and supported by the Global Infrastructure Facility that will help mobilize US$600 million in private investment, address capacity constraints, relieve traffic bottlenecks and reduce travel time in the North Coast corridor, spur economic growth and tourism, as well as improve the quality of services.
