"The consortium includes the Development Bank of Latin America and the Caribbean (CAF), the Caribbean Development Bank (CDB), the Inter-American Development Bank (IDB), the International Monetary Fund (IMF), and the World Bank Group. Top officials have met in recent days to develop a strategy to help Jamaica recover from Superstorm Melissa, which has caused nearly $9 billion in damage to some of the island's northern and western parishes as it made landfall in late October."
"For Jamaica, this was the second consecutive year that a powerful storm had come calling, as some communities were still recovering from the rebel storm Beryl in 2024. Beryl had astonished experts worldwide by gaining full strength by the end of June, less than four weeks after the official start of the annual hurricane season, as history has shown that most formation and development occur after August."
Multilateral financial agencies including CAF, CDB, IDB, IMF and the World Bank Group are coordinating a relief package to raise billions for Jamaica. Top officials met to develop a strategy after Superstorm Melissa caused nearly $9 billion in damage to northern and western parishes following late-October landfall. The storm also struck Haiti and Cuba. Jamaica faced consecutive powerful storms after 2024's Beryl, which rapidly intensified by late June. The package, compiled at Prime Minister Andrew Holness's request, blends emergency financing, sovereign support, grants and private-sector mobilization to rebuild stronger and improve long-term resilience.
Read at www.amny.com
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