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Haiti - Security : CDB will once again pay insurance premiums for Haiti
Parametric insurance contracts pay out quickly and reliably for disasters. They play a unique role in tackling humanitarian emergencies by providing quick liquidity at a time when there is a dramatic reduction in Government revenue and, at the same time, a need for large government services expenditures.
CDB has committed to continue paying the premiums to support efforts related to emergency disaster response and recovery, and to provide assistance to Haiti through other mechanisms, which aim to build resilience to the impact of natural hazards.
CDB’s Director of Projects, Daniel Best said the commitment is consistent with the Bank’s focus on promoting environmental sustainability and climate change resilience.
"For the 2017 hurricane season, Haiti will still be in recovery mode from the Hurricane Matthew impact, and thus it is of critical importance that the coverage continues under the CCRIF policies. The Government of Haiti has shown its commitment to building resilience, and continuing catastrophic risk insurance coverage will allow them to reduce their budget volatility," Best said.
Recall that following Hurricane Matthew, Haiti had received more than $20 million in compensation from the CCRIF SPC through this insurance policy https://www.haitilibre.com/en/news-18910-haiti-politic-the-ccrif-will-pay-more-than-$20-to-haiti.html
The Government of Haiti has also taken steps, with the support of its development partners, to design and implement development projects that incorporate natural hazard risk reduction and adaptation to climate change as core elements of these initiatives.
See also :
HL/ SL/ HaitLibre