A government Senator, Don Wehby, says it’s time for Jamaica to re-open the conversation about providing insurance to farmers.
Senator Wehby says agriculture is too important to the economy for this not to be explored. He made the call in the Senate today. He’s also called on the government to study Mexico’s use of a catastrophe bond transaction.
Last month, the World Bank announced the completion of its USD$360-million Mexico catastrophe bond transaction.
The bond aims to protect Mexico against economic shocks which may be caused by earthquakes and storms.
Senator Wehby was making his contribution to a bill which is entitled the Agricultural Loan Societies Approved Organizations Act 2017.