CDB to help pay Haiti’s 2018-2019 catastrophe insurance premiums

BRIDGETOWN, Barbados — The Caribbean Development Bank (CDB) has approved a grant of US$3 million to cover Haiti’s 2018-2019 insurance premiums with CCRIF SPC – the company that provides parametric insurance coverage to the Caribbean and Latin America. The bank’s funding will help the country meet the cost of the premiums for tropical cyclone, earthquake and excess rainfall coverage to which the government of Haiti will contribute up to US$1.8 million.

CDB’s director of projects, Daniel Best said that among the bank’s 19 borrowing member countries, Haiti is one of the most vulnerable to natural hazards.

“A large percentage of the population of Haiti is exposed to multiple hazards, due to climate change, the rapid growth of unplanned settlements, and ecosystem…

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