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Add to Preferred SourcesThe European Union (EU) has signed two agreements with the World Bank’s (WB) Global Facility for Disaster Reduction and Recovery (GFDRR) to provide funding totaling EUR 30.7 million that will strengthen disaster risk management (DRM) in the Caribbean.
The programs will support Caribbean countries to plan for long-term resilience and climate-smart growth strategies and to design and implement innovative policy and investment initiatives. The two programmes that will benefit are the Caribbean Regional Resilience Building Facility (EUR 27.7 million) and the Technical Assistance Program for Disaster Risk Financing and Insurance in Caribbean Overseas Countries and Territories (OCTs) (EUR3 million).
The Caribbean Regional Resilience Building Facility will support 15 Caribbean countries by providing technical assistance to mainstream resilience, leveraging investments to reduce vulnerability, and expanding financial protection against disasters.
The Technical Assistance Program for Disaster Risk Financing and Insurance in Caribbean Overseas Countries and Territories will help the OCTs understand their financial exposure or contingent liability to disasters, provide an overview of financial protection tools available, assess the feasibility of participating in insurance mechanisms and facilitate the sharing of knowledge among OCTs. This Technical Assistance Program will be carried out jointly with the Caribbean OCTs’ Resilience, Sustainable Energy and Marine Biodiversity Programme – ReSEMBiD (EUR 36.7 million), implemented by Expertise France, which objective is to strengthen environmentally sustainable economic development in Caribbean OCTs.
The Caribbean Region Resilience Building Facility will benefit Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, the Dominican Republic, Grenada, Guyana, Haiti, Jamaica, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago.
The Technical Assistance Program for DRF and Insurance in Caribbean OCTs will benefit Anguilla, Aruba, St. Barthélemy, British Virgin Islands, Bonaire, Cayman Islands, Curaçao, Montserrat, Saba, Turks and Caicos Islands, St. Eustatius and St. Maarten.
The programmes will be managed in close coordination by two EU Delegations in their respective geographic area of responsibilities.
Daniela Tramacere, European Union Ambassador to Barbados, Eastern Caribbean States, the OECS and CARICOM/CARIFORUM said: “If there is no doubt that all countries and people are affected by climate change, there is also no doubt that some countries and some people are more vulnerable than others to natural disasters.
Original source: Caricom Today
Published on 31 January 2019