CDB unveils finance package for storm-hit islands

…Jagdeo calls for immediate evacuation of Guyanese

THE Caribbean Development Bank (CDB) has announced support for its borrowing member countries (BMCs) affected by Hurricane Irma, and for the Caribbean Disaster Emergency Management Agency (CDEMA), which is coordinating the Region’s response to the affected states.
In a statement issued on Monday, the CDB said it is the process of providing Emergency Relief Grants to Anguilla, Antigua and Barbuda, The Bahamas, the British Virgin Islands and the Turks and Caicos Islands. These grants, totaling US$200,000 each, will assist with costs associated with damage assessments and the provision and transportation of emergency relief supplies, water and sanitation resources, roofing materials for emergency shelters and community buildings, and temporary shelter for displaced persons.
In addition, CDB has offered Immediate Response Loans of up to US$750,000 to the affected countries. The loans, available on highly concessionary terms, are designed to support the clearing and cleaning of areas damaged by Hurricane Irma, and the emergency restoration of services. As the Region anticipated the arrival of Hurricane Irma, the Bank also approved a fast-tracked grant of US$150,000 to CDEMA to assist with preparations for mobilising and coordinating disaster relief.

Dr. William Warren Smith, President of CDB, noted the Bank’s commitment to providing assistance following the passage of Irma. “We reaffirm our support for our BMCs affected by this devastating hurricane. We very much regret the loss of life and infrastructure, and pledge to help the Governments and people of the impacted countries recover and rebuild in any way we possibly can,” he said.
CDB’s BMCs affected by Hurricane Irma are also eligible to receive Rehabilitation and Reconstruction Loans. This instrument helps governments with their recovery efforts, to rehabilitate social and economic infrastructure, and restore key economic sectors to better than pre-disaster operating levels. The loans also assist in reducing countries’ vulnerability to future disasters.

As countries work on assessing the damage caused by Irma, CDB is also engaging development partners in discussions and planning for additional recovery and rehabilitation support. The Caribbean Catastrophe Risk Insurance Facility, a segregated portfolio company and CDB partner, announced last week that it will make payouts of US$15.6 million on their tropical cyclone policies to the Governments of Antigua and Barbuda, Anguilla, and St. Kitts and Nevis as a result of the passage of Hurricane Irma. Additional payouts are expected in relation to water damage from flooding and storm surges. CDB, which started outreach to BMCs in the path of Hurricane Irma before its approach, continues to collaborate with governments as they begin detailed assessments of damage caused to economic and social infrastructure.

EVACUATION
Meanwhile, Opposition Leader, Bharrat Jagdeo has called on the government to immediately initiate steps to provide assistance to our Caribbean brothers and sisters and to assist with the evacuation of Guyanese living on the affected islands.
In a statement, Jagdeo said the extent of damages is insurmountable with lives lost, buildings flattened and thousands of people without access to water, food and proper shelter. “At my last press conference, I commiserated with our Caribbean brothers and sisters whose lives have been uprooted and thrown in a state of chaos as a result of Hurricane Irma, one of the most devastating in recent history. I urged the Government of Guyana to render as much assistance that it could to alleviate the plight of those affected.” Jagdeo added that Hurricane Irma has practicably reduced some of these islands to ground zero. It is, therefore, incumbent upon the Government of Guyana to take immediate action.

 

 

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