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PM moots disaster relief fund for Jamaica
2012-10-31 09:25:29 | (0 Comments)
Jerome Reynolds, Gleaner Writer
Prime Minister Portia Simpson Miller - File Photo
Prime Minister Portia Simpson Miller has indicated that Jamaica may have to consider setting up its own disaster relief fund.
She made the comment as she disclosed that Jamacia would not be able to access emergency relief funds from the Caribbean Catastrophe Risk Insurance Facility to offset the almost $5 billion repair bill left by Hurricane Sandy.
Jamaica is among several Caribbean countries which are party to the World Bank initiative.
But Simpson Miller told the House of Representatives yesterday that Jamaica will not be able to access funds because of the terms of the policy with the insurance scheme.
She explained that the policy makes provision for a payout only if the country is hit by a category five hurricane.
The Opposition spokesman on finance, Audley Shaw, had earlier suggested that the government should move to put in place a more comprehensive disaster insurance fund.
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Source: The Gleaner/Power 106 News
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