The government can now access a payout of $2.5 billion from its Caribbean Catastrophe Risk Insurance Facility, CCRIF, policy to drive the recovery effort from the passage of Hurricane Beryl.
That’s according to an update provided by Finance Minister, Dr. Nigel Clarke, on Monday.
Dr. Nigel Clarke, Finance Minister.
The CCRIF Tropical Cyclone Policy represents the fourth layer in the GOJ’s multi-layered disaster risk financing framework.
Dr. Clarke previously announced that the country may utilise pay outs from its Contingency Fund and Natural Disaster Fund, through which a combined sum of four-point-five billion dollars can be accessed.
These form part of the first two layers of the Holness Administration’s multi-layered strategy.
