Jamaica to access Contingency and Natural Disaster Funds to deal with fallout from Hurricane Beryl

Jamaica will have to draw on all available resources from its Contingency and natural disaster funds to deal with the fallout from the passage of Hurricane Beryl.

Finance Minister, Dr. Nigel Clarke said the Government strategically implemented a multi-layered set of financial instruments to pre-finance the emergency response and recovery costs of natural disasters.

Dr. Clarke noted that while it is neither expected nor designed that all storms will trigger all instruments, the idea is that Jamaica should always be able to access resources from some instruments for every storm.

However, Dr. Clarke said damage assessments indicate that all resources have to be capitalized on.

Dr. Clarke said Jamaica could also make use of its policies with the Caribbean Catastrophe Risk Insurance Facility.

He said over the next few days, the Government will aggregate the estimates of damage and interventions required, and finalize the total resources from disaster risk financing sources.


Leave a Reply

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.