FOFICIAL
DOCUMENTS              ~
STATUTORY COMMITTEE REPORT
TO: The President, International Bank for Reconstruction and Development
Report of Committee under Section 4 (iii) of Article III of the Articles of Agreement on the
Proposed Loan (Economic Stabilization and Foundations for Growth Development Policy Loan) to
Jamaica.
The undersigned Committee constituted under Section 7 of Article V of the Articles of Agreement
of International Bank for Reconstruction and Development (the Bank) hereby submits its report pursuant
to Section 4 (iii) of Article III of said Articles in respect of the proposal that the Bank grant to Jamaica
(the Borrower) a loan in an amount of US$130,000,000. The purpose of said loan is to support the
Borrower's efforts to implement a set of policy and institutional reforms to increase competitiveness and
improve fiscal management.
1.   The Committee has carefully studied the merits of the proposal to grant such a loan, and of the
purpose to which the proceeds of the loan are to be applied.
2.    The Committee is of the opinion that the Program in support of which the proceeds of such loan are
to be applied comes within the purposes of the Bank as set forth in Article I of said Articles of Agreement,
and that said Program is designed to promote the development of the productive facilities and resources of
Jamaica and is in the interest of Jamaica and of the members of the Bank as a whole.


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JAMAICA                                       Economic Stabilization and Foundations for Growth
Development Policy Loan
3.    Accordingly, the Committee finds that said Program merits financial assistance from the Bank, and
hereby recommends said Program for such assistance.
COMMITTEE
Se     ice President and Group General Counsel
Expert Selected by Governor for
Jamaica
Regional Vice President
Latin America and the Caribbean
Managing Director and World Bank Group
Chief Financial Officer
Senior Vice President  Chief Economist
Dated at Washington, D.C.
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