The Caribbean is just one natural disaster away from catastrophe, and the region’s current financing model is failing to keep pace with escalating climate risks. This, according to Jwala Rambarran, Senior Policy Advisor at the Caribbean Policy Development Centre (CPDC) needs urgent attention.
Rambarran was speaking at a recent debt consultation in St. Vincent & the Grenadines in February. While presenting findings from his study, “How Can the World Bank Better Support Natural Disaster Risk Financing in Caribbean SIDS?” he highlighted the urgent need for more effective financial instruments with pre-arranged emergency liquidity after natural disasters. This he says will help Caribbean small island developing states (SIDS)…
