Petrocaribe Development Fund Scholarship

Ministry of Finance and the Public Service Petrocaribe Development Fund Scholarship

The PetroCaribe Development Fund (The Fund), is a body corporate created by the Government of Jamaica in December 2006 to manage the proceeds which accrue to Jamaica under the PetroCaribe Energy Cooperation Agreement through an Amendment to the Petroleum Act in 2006. Under the Agreement, the Government of Venezuela agreed to convert a portion of each payment due for petroleum products supplied to PetroJam Ltd., the state owned refinery, into a long term concessionary loan.

The Fund also operates a grant facility through which investments are made in projects and programmes which benefit the most vulnerable in the society and their communities. Resources for this aspect of its operations flow from the surplus generated by its loan financing and investing activities.

Fields of Study: Entrepreneurship, Logistics, Spanish, Energy
Value: Up to a maximum of JMD$500,000.00 per student


Applicants to the Ministry of Finance and the Public Service Petrocaribe Development Fund Scholarship program should:

  • Be citizens and permanent residents of Jamaica;
  • Be enrolled in, or accepted to pursue a course of study in Entrepreneurship, Logistics, Energy or Spanish;
  • Display satisfactory performance leading up to the application (minimum GPA of 2.75 or B average);
  • Not a current beneficiary of any other grant and or assistance processed through the Ministry of Finance and the Public Service; and
  • Be of a lower socio-economic/vulnerable group, including youth, youth at risk, women and persons with disabilities.

Application Process

The Ministry of Finance and the Public Service Petrocaribe Development Fund Scholarship program application process must complete the application form and submit to Scholarship and Assistance Unit of the Ministry of Finance and the Public Service by the deadline, with the supporting documents as outlined below:

  • Acceptance Letter/Progress Report;
  • Proof of programme cost owing to the Institution;
  • One (1) letter of reference attesting to the applicant’s character and need for financial assistance (Justice of the Peace, Attorney-at-Law, Principal, Minister of Religion); and
  • Birth Certificate/Bio-page of Passport.


Each Petrocaribe Development Fund scholarship recipient shall:

  • Sign the Acceptance of Offer Letter and return by established deadline;
  • Fulfill all requirements of the programme for which the scholarship is awarded;
  • Observe the laws of Jamaica and the regulations of the institution of study;
  • Maintain a minimum GPA of 2.75 or a B average;
  • As is applicable, sign a service bond to the Government of Jamaica in keeping with the Bonding Policy for the Government of Jamaica, prior to the disbursement of funds; and
  • Participate in promotional activities and processes associated with feedback/evaluation of the programme.

Closing date for Application: March 17, 2017

Application packages are to be submitted to:
Scholarships and Assistance Unit
Ministry of Finance and the Public Service,
1st Floor, Block “G”
30 National Heroes Circle, Kingston 4
Telephone 922-8600-12 Fax:932-5013

Article Name
Petrocaribe Development Fund Scholarship
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