Monday, April 22, 2024

Barbados given US$20m in disaster recovery funds


Share post:

BARBADOS has received over US$20 million from the Caribbean Catastrophe Risk Insurance Facility since it was founded in 2007.

Minister in the Office of the Prime Minister Senator Darcy Boyce made this announcement on Monday as he praised the regional organisation for its role in assisting disaster-stricken countries.

Speaking to other shareholders of the facility and members of the media at the Caribbean Development Bank headquarters in Wildey, St Michael, Boyce said that Barbados had benefited from the facility several times.

“The first was in October, 2010, after the passage of Tropical Storm Tomas which wreaked havoc over the entire landscape of Barbados . . . leaving an estimated US$17.2 million in damages,” Boyce said.

“The second occasion was in November, 2014, where the facility came to the aid of Barbados and financed an estimated US$2.6 million worth of damages due to a trough system which generated excess rainfall of around 261 millimetres in a matter of hours.”

Boyce said the last time Barbados received funding was when Tropical Storm Matthew passed last year. The country received US$3.4 million. (AD)


Please enter your comment!
Please enter your name here

Related articles

Sunil Narine rules out West Indies comeback for T20 World Cup

Sunil Narine has ruled himself out of a recall to West Indies' squad for the forthcoming T20 World Cup...

Taiwan rattled by 6.1 magnitude earthquake amid numerous tremors

Taiwan was hit with a magnitude 6.1 earthquake in the early hours of Tuesday local time (2:32 p.m....

Trump hush money trial was ‘election fraud pure and simple’, prosecutors say

Donald Trump “orchestrated a criminal scheme to corrupt the 2016 presidential election” by covering up an alleged affair...

Nicki Minaj throws item back into crowd after nearly getting hit by object onstage

Nicki Minaj was left unimpressed after a fan threw an object at her onstage. In a video shared by Pop Crave on...