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International

Caribbean Development Bank approves $3.5 million grant to pay Haiti's catastrophe risk premium

May 25, 2016 Reprints

Barbados-based The Caribbean Development Bank has approved a $3.5 million grant to pay Haiti's annual Caribbean Catastrophe Risk Insurance Facility premium for the period June 1, 2016 to May 31, 2017.

It is the fourth year that CDB has approved a grant for the payment of Haiti's premiums on excess rainfall, tropical cyclone and earthquake policies.

The grant is reportedly being paid under the Eighth Cycle of the Special Development Fund, reports Jamaica Observer.

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Caribbean Development Bank approves $3.5 million grant to pay Haiti's catastrophe risk premium

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