Finance Minister, Dr. Nigel Clarke, has revealed that the World Bank has approved a US$15-million dollar grant to support Jamaica’s bid to expand its financial protection against natural disasters.
That’s the equivalent of approximately $J2 billion.
In a statement this afternoon, the Finance Ministry noted that the grant is being made available through the Global Risk Financing Facility, GRIFF.
The GRIFF is a multi-donor trust fund of the World Bank. It’s supported by Germany and the United Kingdom.
Dr. Clarke says it’s significant that the grant represents the largest made by GRIFF to a middle-income country.
Dr. Clarke says the grant is important to Jamaica’s efforts to achieve resilience against the threats posed by climate change.
Dr. Nigel Clarke, Finance Minister, speaking this afternoon with Nationwide News.