"Jamaica has secured up to $6.7bn in support from international agencies to fund reconstruction over the next three years in the wake of Hurricane Melissa in October. Melissa, one of the strongest storms on record to make landfall in the Caribbean, unleashed catastrophic flooding and landslides with some 76cm (30 inches) of rain when it struck Jamaica in October, causing damage estimated at $10bn."
"The support will come from the CAF-Development Bank of Latin America and the Caribbean, the International Monetary Fund, the World Bank, the Caribbean Development Bank and the Inter-American Development Bank Group, the institutions said in a joint statement. Included in the new package is up to $3.6bn in government financing, with the largest contributions coming from the CAF-Development Bank of Latin America and the Caribbean, the Inter-American Development Bank and the World Bank, each providing up to $1bn."
Jamaica secured up to $6.7bn from international agencies to fund reconstruction over three years after Hurricane Melissa struck in October. Melissa brought about 76cm (30 inches) of rain, causing catastrophic flooding, landslides and roughly $10bn in damage. The support package involves CAF, the IMF, the World Bank, the Caribbean Development Bank and the Inter-American Development Bank Group. Included is up to $3.6bn in government financing, with up to $1bn each from CAF, the Inter-American Development Bank and the World Bank. Recovery planning emphasizes critical priorities, long-term investments and resilience while clearing nearly five million tonnes of debris that blocked roads and services.
Read at www.aljazeera.com
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