Thu | Jul 29, 2021

No payouts for JA

Published:Wednesday | August 22, 2007 | 2:38 PM

Jamaica and the other Caribbean countries that were hit by Hurricane Dean will not receive help through the Caribbean Catastrophe Risk Insurance Fund.



The fund was recently established to provide recovery money in the event of natural disasters, such as hurricanes or earthquakes.



But, senior urban specialist in the Latin American and Caribbean Department, Francis Ghesquiere, said preliminary estimates indicate that damage caused by the hurricane was not sufficient to activate the facility.



Jamaica, St. Lucia, Belize, Haiti and the Cayman Islands were among 18 Caribbean countries that signed up for the Fund in February.



A California-based risk modeling company says Hurricane Dean cost Caribbean islands between 1.5 and 3 billion U.S. dollars.



Meanwhile the United Nations (UN) says officials are now surveying the damage caused by the first major Atlantic hurricane of the season.



They are also assessing the most critical needs of the islands affected.