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Jamaican government moves to reduce fiscal exposure to disaster

Source(s): Gleaner, the
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Photo by Flickr user Chris Ford CC BY 2.0 https://www.flickr.com/photos/chrisschoenbohm/5369661257
Photo by Flickr user Chris Ford CC BY 2.0 https://www.flickr.com/photos/chrisschoenbohm/5369661257

Jamaica is contributing $427.5 million to the Caribbean Catastrophe Risk Insurance Facility (CCRF) next fiscal year despite the fact that it has never been able to draw down on the funds after a natural disaster.

The finance ministry said that this was necessary to actively enhance Jamaica's fiscal resilience to disaster and to that end a project is being developed in conjunction with the World Bank to prepare a national disaster risk financing and insurance strategy.

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Document links last validated on: 16 July 2021

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Themes Insurance and risk transfer Economics of DRR Small Island Developing States (SIDS)
Country and region Jamaica

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