UN General Assembly
2017

The World Bank established the Caribbean Catastrophe Risk Insurance Facility to assist countries that have been affected by natural disasters. Though helpful, the amounts are usually grossly inadequate to rebuild infrastructure and maintain the gains and progress made in economic and social development in the wake of the likes of Hurricanes Maria and Irma, or even in the case of a tropical storm such as Erika, which occurred two years ago. Substantially more funds must therefore be made available to vulnerable countries for loss and damage so they can mitigate the risks associated with future incidents.