CDB allocates almost USD 1 million for immediate Bahamas
As immediate response to the devastation caused by Hurricane Dorian in The Bahamas, the Caribbean Development Bank (CDB) has allocated almost USD 1 million for the Government of the Bahamas.
“We are devastated by the loss of life and infrastructure in Bahamas, hit by the strongest storm ever recorded in the archipelago. The Caribbean Development Bank stands ready to support the people of the Bahamas to make quick recovery,” said Dr. Wm Warren Smith, CDB President.
CDB has today disbursed USD 200,000 as an Emergency Relief Grant to the Bahamas National Emergency Management Agency for humanitarian assistance and has allocated a USD 750,000 Immediate Response loan to assist with the clean-up and short-term recovery.
“Countless houses, medical facilities and roads were destroyed or are under water, and the number of lives lost is still rising. The devastation is a stark reminder that climate change is real and a major threat to our Region. Our Region needs to build better and stronger in order to minimise damage and mitigate future losses,” said Smith.
Among the support offered, the CDB President pledged the Bank’s assistance with the restoration of essential services on the affected islands, including water and sanitation, and through the re-purposing of available balances from other loans for priority recovery projects in the power and education sectors.
“The Caribbean Development Bank is prepared to fully support a clearly-defined national recovery plan prepared by the Government of The Bahamas with financial means and technical expertise,” noted Smith.