Caribbean Development Bank gives funds to Haiti to help face natural disasters

Residents stand on the banks of a river that swept away five homes in Port au Prince. Hurricane Sandy passed to the west of Haiti October 25, 2012 causing heay rains and winds, flooding homes and overflowing rivers. Photo Logan Abassi UN/MINUSTAH

The Caribbean Development Bank delivered to Haiti more than two million dollars to face and cover the damages associated with 2015 and 2016 hurricane seasons. According to Caribbean News Now, the fund is part of the financial institution’s commitment to support the efforts of the Haitian government to mitigate and effectively manage natural disasters and strengthen its economy. Here are excerpts:

The board of directors of the Caribbean Development Bank (CDB) has approved grant assistance of US$2,377,250 to the government of Haiti to meet the country’s insurance premium for coverage provided by the Caribbean Catastrophe Risk Insurance Facility (CCRIF) for the 2015-2016 hurricane season. Haiti is one of 16 Caribbean nations that buy policies from CCRIF, which provides rapid cash payments to help regional governments maintain essential services in the aftermath of a natural disaster.

“This grant assistance is just part of our ongoing commitment to support the government of Haiti in its efforts to better mitigate and manage the impacts of natural disasters. CDB will remain a close development partner and help Haiti advance and emerge as a stronger, more resilient economy,” said Dr. Warren Smith, president of the CDB.

Haiti continues to recover from the catastrophic magnitude 7.0 earthquake in 2010, which caused more than 300,000 deaths, displaced more than three million people and made more than one million homeless. Since then, the country experienced devastating torrential rainfall, flooding and other localised disasters in 2012, 2013 and 2014. [. . .]

For full article, see http://www.caribbeannewsnow.com/topstory-CDB-approves-US%242.37-million-in-grant-assistance-for-Haiti-catastrophe-risk-insurance-26950.html

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