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Innovative Partnerships Needed To Tackle Climate Related Disasters

Innovative Partnerships Needed To Tackle Climate Related Disasters
africa.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from africa.com Daily Mail and Mail on Sunday newspapers.

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CCRIF s Members in the Caribbean and Central America Renew Catastrophe Risk Insurance Policies Ahead of Another Active Hurricane Season - Antigua and Barbuda

CCRIF s Members in the Caribbean and Central America Renew Catastrophe Risk Insurance Policies Ahead of Another Active Hurricane Season - Antigua and Barbuda
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World Bank Catastrophe Bond Provides Jamaica $185 Million in Storm Protection

Share Washington – 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. The government of Jamaica is the first government in the Caribbean region, and the first of any small island state, to independently sponsor a catastrophe bond, also known as a cat bond. Jamaica was one of the sixteen countries in the Caribbean Catastrophe Risk Insurance Facility that benefitted from IBRD’s first ever cat bond in 2014.

United statesUnited kingdomWorld bankDistrict of columbiaHeike hennJean louis monnierNigel clarkeWasif ahmadPaul schultzJingdong huaJason fraserCarlos felipe jaramilloWorld bank internationalInsurance programGerman federal ministry for economic cooperationPension fund

World Bank catastrophe bond provides Jamaica $185 million in storm protection - Jamaica

World Bank catastrophe bond provides Jamaica $185 million in storm protection - Jamaica
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United statesWorld bankDistrict of columbiaUnited kingdomHeike hennJean louis monnierNigel clarkeWasif ahmadPaul schultzJingdong huaJason fraserCarlos felipe jaramilloWorld bank internationalInsurance programGerman federal ministry for economic cooperationUnited states agency for international development

World Bank catastrophe bond provides Jamaica US$185 million in storm protection

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