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July 13th, 2011, 11:26 AM #1
- Join Date
- Jun 2009
Couples support of Jamaican economy
Occasionally this MB has threads encouraging support of Jamaica and Jamaicans by buying "local" items as opposed to spending $ at non-Jamaican owned mega-chains.
An article in today's Jamaica Gleaner today points to a proposal before the IFC (an arm of the World Bank) that lobbies for a loan to Couples. The proposal contends that support for the Couples chain is good for Jamaica and its longterm stability.
Mainly it contends this because Couples is owned by a long time well-established and respected Jamaican family (the Issas), is a local "small and family-owned business" (though The Gleaner appears to take some issue with that), and contributes to the local economy through its largest sector (tourism).
Those interested in such discussions on how/if one is contributing locally may want to read the proposal for the points it makes.
Most of the loan appears to target refinancing existing debts to more favorable conditions but there also is mention of $ for "future expansion capabilities".
I would venture that might be CSS because of the existing space, but look forward to hearing news of it in the future.