IDB chief offers support for relief effort

Thu, Oct 13th 2016, 11:00 AM

Inter-American Development Bank Group (IDB) President Luis Alberto Moreno has offered the IDB's collaboration to facilitate relief, assessment and reconstruction efforts in the aftermath of Hurricane Matthew.

In a statement issued yesterday, Moreno expressed the institution's thoughts and prayers, and offered support for the Bahamian people and government in the wake of Hurricane Matthew, which impacted many areas of The Bahamas from October 4-7, 2016.

"As a development partner, we want to reiterate the IDB's long term commitment to The Bahamas and offer our support and collaboration to facilitate relief, assessment and reconstruction efforts in the aftermath of Hurricane Matthew in the entire archipelago, including isolated communities in the Family Islands," Moreno said.

Meanwhile, rapid needs assessment teams (RNATs) from the Caribbean Disaster Emergency Management Agency (CDEMA) have completed their assessments of New Providence, Grand Bahama and North Andros, and were due to report their findings last night to Bahamian authorities. Those findings are expected to provide guidance for recovery and rehabilitation efforts.

The three teams, which have been in the country since Saturday, are made up of 29 members, who were mandated to provide a report within 72 hours on the damage to those islands being assessed as well as the noted guidance for recovery and rehabilitation.

Guardian Business has reported that through CDEMA, The Bahamas has access to US$400,000 in disaster relief grants.
And, it has been reported that CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) is preparing to make a payout to the government of Haiti. The passage of Hurricane Matthew triggered a payment on the country's tropical cyclone policy, which, based on preliminary calculations, will equal a little over US$20 million - the largest payment ever made by CCRIF.

The Bahamas is a member of CCRIF, and in fact, after Hurricane Sandy passed through the Caribbean in October 2012, affecting three CCRIF member countries - Haiti, Jamaica and The Bahamas - CCRIF agreed to the Bahamian government's request to provide US$85,000 for two projects to strengthen coastal defenses damaged by Sandy: dune extensions at Sandyport Beach Entrance and other locations, and repairs to Long Wharf Sidewalk - all of which are important for The Bahamas' tourism industry.

It is not clear what level of damage would kick in The Bahamas' CCRIF Tropical Cyclone policy. Such policies are designed to cover damages from wind and storm surge, but not rainfall.

Since its inception in 2007, CCRIF has made a total of 15 payouts to 10 member governments totalling US$38.8 million, all within 14 days of the event. This payment will represent the 16th payout, which would make total payouts approximately US$58.8 million.

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