European Commission and World Bank Sign Agreement on Catastrophe Risk Insurance for Caribbean and Central American countries


European Union contributes €14 million to Multi-Donor Trust Fund to facilitate access by Central American countries and the DR to insurance facility.

The European Commission and the World Bank signed today a Euro 14 million agreement to be executed by the Multi-Donor Trust Fund (MDTF) to facilitate access to low cost, high quality catastrophe risk insurance for the governments of Central American countries and the Dominican Republic.

This contribution will support these countries become formal members of CCRIF SPC, formerly the Caribbean Catastrophe Risk Insurance Facility, a multi-country program that allows its current 17 members to pool risk and access disaster insurance coverage at low cost, and better manage and finance disaster risk.

Today’s agreement was signed by Neven Mimica, European Union Commissioner for International Cooperation and Development, and Jorge Familiar, World Bank Vice President for Latin America and the Caribbean. Milo Pearson, Chairman of CCRIF SPC.

View original post 503 more words