Caribbean leaders from more than 20 countries met this past week to review climate change-based disaster risks and priorities as the tourism-reliant region faces more frequent crippling storms and related disaster risks.
Organized by the World Bank, the government of Barbados, the Caribbean Disaster Emergency Management Agency (CDEMA) and the European Union, the Understanding Risk (UR) Caribbean conference provided government and tourism officials “an opportunity to renew our commitment to work together across the Caribbean and across institutions, to invest in preparedness and build resilience in taking a 360-degree approach to resilience,” said Tahseen Sayed, World Bank Director for the Caribbean, in a Caribbean News Now report.
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Following the impact of the devastating hurricanes of 2017 and the likelihood of equally powerful storm in the future, Caribbean destinations will be challenged to improve preparedness, strengthen infrastructure, increase fiscal reserves, reinforce social safety nets and create opportunities to “better manage the Caribbean region’s natural resources,” said Sayed.
The conference highlighted the launch of three long-term resilience and “climate-smart” growth strategies. A $31 million Caribbean Regional Resilience Building Facility financed by the European Union (EU) will provide technical assistance to resilience efforts and expand financial protection against disasters.
Another EU program will provide $3.4 million to support Caribbean overseas countries and territories in assessing their financial exposure to disasters. The funds will also support knowledge sharing among the territories.
Finally, a $15.2 million Canada Caribbean Resilience Facility (CRF) will boost nine Caribbean countries’ capacity for more effective and coordinated disaster preparedness, recovery and resilience building and public financial management. The facility will be managed by the World Bank’s Global Facility for Disaster Reduction and Recovery.
“Natural disasters in the Caribbean region have become increasingly intense in the face of climate change. Now more than ever, there is an urgency to support island nation states in their effort to build a more resilient future,” said Anna Wellenstein, the World Bank’s director of strategy and operations.