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Billions of dollars needed to recover from natural disasters - World Bank

A new World Bank Report is suggesting that, on average, Jamaica would need J$16 billion  annually to cover losses from natural disasters.
 
It is estimated that $9 billion would be required to address hurricane damage to public and private buildings.
 
The report, which outlines proposals for the formulation of  a country-specific comprehensive disaster risk finance strategy, was officially launched during a ceremony in New Kingston yesterday.
 
According to the World Bank, the document is envisioned to be used as a planning tool for the potential development of a comprehensive disaster risk finance strategy that would equip the Ministry of  Finance with information and instruments to manage contingent liabilities posed by natural disasters. 


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