Shaw Calls on Multilaterals to Provide Grant Support to Hurricane-Battered Nations

Finance Minister, Audley Shaw, is calling on multilateral agencies to provide a combination of grant funding and concessional loans to help Caribbean islands severely affected by the passage of hurricanes Irma and Maria.

Minister Shaw made the call while addressing the Caribbean and International Partners Action Dialogue on Hurricanes.

It was held at the Organization of American States (OAS) in Washington DC on Friday. The event was convened by Grenada’s Prime Minister, Keith Mitchell, and Sir Richard Branson.

Delegations from the Caribbean and multilateral agencies were also in attendance. The Finance Minister says the devastation caused by the recent hurricanes in certain Caribbean countries was unprecedented.

Meanwhile, Minister Shaw commended the World Bank for the swift payout under the Caribbean Catastrophic Risk Insurance Facility.

He also highlighted the need for a review of the insurance scheme, to see how it can be significantly enhanced for emergencies like these.

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