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Caribbean News Global July 20, 2021 WASHINGTON, USA – The World Bank (International Bank for Reconstruction and Development, or IBRD) priced a catastrophe bond that will provide the government of Jamaica with financial protection of up to US $185 million against losses from named storms for three Atlantic tropical cyclone seasons ending in December 2023. Jingdong Hua, vice president and treasurer, World Bank, said,  “We are pleased to be able to support this transaction and bring together so many different partners all committed to strengthening Jamaica’s resilience to tropical cyclones. We especially thank the capital market investors for their support and participating in this important mission.”

United statesWorld bankDistrict of columbiaUnited kingdomJingdong huaNigel clarkeCarlos felipe jaramilloWorld bank internationalInsurance programUnited states agency for international developmentWorld bank disaster risk financingWorld bank disaster protection programUnited states agency of international developmentInternational bankCaribbean catastrophe risk insurance facilityFelipe jaramillo