KINGSTON, Jamaica -- Several major Jamaican banks have formed a venture capital fund to support the country's music industry.
Promoters said income from reggae music, currently $100 million a year, could grow bigger than the island's $750 million tourism industry.
Paul Chen-Young, chairman of Eagle Merchant Bank, said venture money could back an entertainment complex in Montego Bay, satellite facilities, a compact disc factory, and marketing.
Other supporters include National Commercial Bank, the island's largest, and Trafalgar Development, a private financier.
