BRUSSELS, Belgium — The European Union (EU) has signed two agreements with the World Bank’s (WB) Global Facility for Disaster Reduction and Recovery (GFDRR) to provide funding totaling €30.7 million that will strengthen disaster risk management (DRM) in the Caribbean. The programs will support Caribbean countries to plan for long-term resilience and climate-smart growth strategies, and to design and implement innovative policy and investment initiatives.
The two programmes that will benefit are the Caribbean Regional Resilience Building Facility (€27.7 million) and the Technical Assistance Program for Disaster Risk Financing and Insurance in Caribbean Overseas Countries and Territories (OCTs) (€3 million).
The 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.
