CDEMA to recommend ways to expedite implementation of building codes

Caribbean Community (CARICOM) Heads of Government have asked the Caribbean Disaster Emergency Management Agency (CDEMA) with recommending how the Community could expedite the implementation of building codes.

This discussion took place at the just concluded Twenty-Ninth Inter-sessional Meeting of the Conference of Heads of Government of CARICOM, which prioritised discussions on building a climate-resilient Community on its packed agenda. The decisions of the Conference were recorded in the Communique that was issued following the Meeting at the Marriott Port-au-Prince Hotel in Haiti under the Chairmanship of His Excellency Jovenel Moise, President of Haiti.

Heads of Government recognised the implementation of building codes as a key mechanism to safeguard critical infrastructure, and as an important component of the Community’s resilience agenda.

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CARICOM records noteworthy successes in 2017 despite challenges

Secretary-General at the CARICOM-UN High Level Conference with the UN SG Antonio Guterres and Head of UNDP Achim Steiner
CARICOM Secretary-General Amb. Irwin LaRocque (l) at the CARICOM-UN High Level Conference with the UN Secretary General Antonio Guterres (r) and Head of UNDP Achim Steiner

(CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana) The more than US$2B pledged at the CARICOM-UN Conference for long-term recovery for hurricane-affected countries and the establishment of the regional renewable energy center are among the successes CARICOM recorded for 2017 in spite of the year’s challenges.

Caribbean Community (CARICOM) Secretary-General Ambassador Irwin LaRocque said in his End of Year Message that the Community was ending 2017 with several other noteworthy achievements, including a change in posture by International Financial Institutions and some Development Partners with respect to access to concessionary development financing.

“It is encouraging to note that our relentless advocacy with respect to the lack of access to concessional development financing appears to be bearing fruit. There is some re-thinking on this issue taking place at the level of the International Financial Institutions (IFIs) and some of our international development partners (IDPs),” the Secretary-General stated.

Adding that CARICOM will continue to advocate for this change he said the Region’s vulnerability to external shocks, which the hurricanes laid bare, emphasised the urgent need for the international community to dispense with GDP per capita as a primary criterion for access to concessional development financing. (more…)

All hands needed on deck for post-hurricane recovery – WB Meeting hears

Statement on High Level Meeting on Recovery and Resilience in the Caribbean

The participants highlighted the need for a response involving all partners, including regional organizations, development partners, private sector, national Governments and civil society, to leverage comparative advantages for building resilience to disasters in highly vulnerable small-island states, as extreme weather events have added to their existing economic vulnerabilities. The contribution of the private sector will also be critical, offering both resources and expertise.
Washington, October 13th, 2017– Leaders and representatives of CARICOM countries and territories, and international partners, including the international financial institutions, and the representatives of territories in the region, convened (Friday) in a high-level round table on recovery and resilience in the Caribbean hosted by the World Bank Group (WBG), as part of the WBG-IMF Annual Meetings.

During the discussion, participants examined the impact of and recovery from the destructive hurricanes that struck the Caribbean in September, reviewed the instruments available for disaster risk management and response, and considered the need to innovate further in order to address the long-term challenges and strengthen resilience of affected islands.

Participants expressed solidarity and support to the affected islands and communities, and reaffirmed their commitment to working together to build back better and in a more resilient way, following the devastation caused by hurricanes Irma and Maria. They highlighted the need to ensure active engagement of communities, especially women, in the recovery and reconstruction process, as well as the importance of putting in place building standards that will mitigate the impact of future extreme weather events. The participants also noted the importance of making progress on the World Bank’s Small States Roadmap which proposes various initiatives to promote resilience of small states. (more…)

CCRIF to make US$19M payout to Dominica following passage of Hurricane Maria

Damage to homes and vehicles in wake of  Hurricane Maria
Damage to homes and vehicles in wake of Hurricane Maria

Grand Cayman, Cayman Islands, September 22, 2017. CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced today that Dominica will receive a payout of US$19,294,800 under its tropical cyclone policy following the passage of Hurricane Maria on September 19. This payout will be made within 14 days of the hurricane.

CCRIF was designed to provide quick liquidity to governments of the Caribbean and Central America following catastrophic impacts from tropical cyclones, earthquakes and excess rainfall. Dominica also holds an excess rainfall policy with CCRIF and assessments as to whether that policy was triggered are ongoing and will be determined in the next few days.

This payout brings the total CCRIF payouts since the start of the 2017 Atlantic Hurricane Season to about US$50.7 million and CCRIF’s payouts since its inception in 2007 to approximately US$120 million.

Devastation in Dominica
Devastation in Dominica
The Caribbean Catastrophe Risk Insurance Facility (CCRIF)
CCRIF SPC is a segregated portfolio company, owned, operated and registered in the Caribbean. It limits the financial impact of catastrophic hurricanes, earthquakes and excess rainfall events to Caribbean and – since 2015 – Central American governments by quickly providing short-term liquidity when a parametric insurance policy is triggered. It is the world’s first regional fund utilising parametric insurance, giving member governments the unique opportunity to purchase earthquake, hurricane and excess rainfall catastrophe coverage with lowest-possible pricing. CCRIF was developed under the technical leadership of the World Bank and with a grant from the Government of Japan. It was capitalised through contributions to a Multi-Donor Trust Fund (MDTF) by the Government of Canada, the European Union, the World Bank, the governments of the UK and France, the Caribbean Development Bank and the governments of Ireland and Bermuda, as well as through membership fees paid by participating governments. In 2014, an MDTF was established by the World Bank to support the development of CCRIF SPC’s new products for current and potential members, and facilitate the entry for Central American countries and additional Caribbean countries. The MDTF currently channels funds from various donors, including: Canada, through the Department of Foreign Affairs, Trade and Development; the United States, through the Department of the Treasury; the European Union, through the European Commission, and Germany, through the Federal Ministry for Economic Cooperation and Development. CCRIF is celebrating its 10th anniversary this year – 2017.
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Hurricanes can turn back the development clock by years

A street in Port-au-Prince, Haiti, after Hurricane Mathew.  (UN Photo/Logan Abassi)
A street in Port-au-Prince, Haiti, after Hurricane Mathew.
(UN Photo/Logan Abassi)

The everyday names of Hurricanes like Irma belie their unprecedented fury and ability to claim not just human lives, homes, bridges and roads. The silent and barely visible victim of these extreme weather events is, increasingly, human and social development.

World Bank studies indicate that some 26 million people – the equivalent of the combined population of Chile and Bolivia – fall into poverty each year due to natural disasters.

No one can stop a hurricane or earthquake, but there are ways to minimize their impacts, as disaster risk management expert Joaquin Toro explains in the following interview.

Read more at: World Bank