Jamaicans should be informed about payout from Catastrophe Bond over next few weeks – Dr. Morris Dixon

Jamaicans should be informed about the payout from the Catastrophe Bond over the next few weeks.

The Cat Bond was triggered after Hurricane Melissa wreaked havoc on the island at Category 5 strength this week.

The bond, which was settled by the International Bank for Reconstruction and Development (IBRD) in May last year, has a potential payout of US$150 million.

Speaking at a special press briefing this morning, Information Minister Dr. Dana Morris Dixon said information about the payout should be available to the public soon.

Meanwhile, Dr. Morris Dixon sought to assure that Jamaica has immediate access to funds to support the country’s hurricane relief and recovery efforts.

She also pointed to the support being received from international partners.

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