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World Bank to give $30 million to Jamaica to prepare for disasters

Staff writer |
The World Bank approved a $30 million loan to help enhance Jamaica’s resilience to disasters and climate hazards through the promotion of risk management.

Jamaica is one of the countries in the world most at risk of natural disasters, with high percentages of GDP and population vulnerable to two or more types of hazards.

Damages and losses from hydro-meteorological disasters and earthquakes were estimated at over $3 billion between 1988 and 2013.

In addition, according to the Intergovernmental Panel on Climate Change (IPCC), the impact of sea level rise and intensified storm surges in the Caribbean will be highest in Jamaica.

The $30 million loan from the International Bank for Reconstruction and Development (IBRD) for the Jamaica Disaster Vulnerability Reduction Project has a 30-year maturity period and a 7-year grace period.

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