Jamaica's National Commercial Bank (NCB) has pledged its support for the Jamaica Manufacturers Association (JMA) buy-Jamaica campaign, saying that it will put $9 million behind the effort over the next three years.

An agreement signed by the parties last week commits NCB to reimbursing the JMA for money spent on the second phase of the project.

The JMA launched its campaign to encourage Jamaicans to buy more of what it manufactured or produced locally, rather than spending on 'Buy Jamaica, Build Jamaica'.

Jamaica's merchandise import bill up to November last year was US$5.27 billion and the country had a trade deficit of US$3.191 billion, according Bank of Jamaica figures. Jamaica would like to lessen this with more of the expenditure taking place at home, creating jobs and helping to spur the country's anaemic economic growth.

While the JMA has claimed some success for its efforts, there has been no quantitative measure of this.

The second phase of the project, according to the associations executive director, Imega Breese McNab, will include setting up billboards as well as road shows promoting the campaign.

The JMA will also sponsor an entrepreneurship competition for high school students, to be named in honour of the organisations late, former executive director, Nicola Gordon-Rowe.

NCB is, so far the only corporate sponsor for the campaign.

richard.deane@gleanerjm.com