By Caribbean News Now contributor
BRIDGETOWN, Barbados –This week, more than 500 delegates from 20 Caribbean countries will be gathering in Bridgetown to discuss priorities and solutions to tackle climate and disaster risks at the Understanding Risk (UR) Caribbean conference. The conference is organized by the World Bank in partnership with the government of Barbados, the Caribbean Disaster Emergency Management Agency (CDEMA) and the European Union (EU), under the auspices of Prime Minister Mia Mottley.
“Understanding a problem is the first step to solving it. Today’s Understanding Risk conference is an opportunity to renew our commitment to work together across the Caribbean and across institutions, to invest in preparedness and build resilience in taking a 360-degree approach to resilience. This means: investing in better preparedness; stronger infrastructure; more fiscal buffers for difficult times; strengthened social safety nets; and opportunities to better manage the Caribbean region’s natural resources,” said Tahseen Sayed, World Bank Director for the Caribbean.
During the week-long conference, three regional programs supporting Caribbean countries to plan for long-term resilience and climate-smart growth strategies will be launched, including the Caribbean Regional Resilience Building Facility and the Technical Assistance Program for Disaster Risk Financing and Insurance in Caribbean Overseas Countries and Territories financed by the European Union, as well as the Canada Caribbean Resilience Facility financed by the Government of Canada.
The $31 million Caribbean Regional Resilience Building Facility will support 15 Caribbean countries by providing technical assistance to mainstream resilience, leveraging investments to reduce vulnerability, and expanding financial protection against disasters.
The second EU funded program provides $3.4 million to support Caribbean Overseas Countries and Territories (OCTs) in assessing their financial exposure to disasters, the feasibility of participating in insurance mechanisms and to…
