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Belize can receive $1 million Canadian dollars for climate change disaster risk management

Posted: Tuesday, June 16, 2020. 6:01 pm CST.

By BBN Staff: Today, the Commission of Canada to Belize announced that Belize is eligible to receive CDN$1 million (BZ$1.486 million) toward its premiums and targeted technical assistance at the Caribbean Catastrophe Risk Insurance Facility (CCRIF).

The High Commission explained that the assistance falls within the framework of the Canada-CARICOM Climate Adaptation Fund, which is valued at CAD $20 million and being implemented by the Caribbean Development Bank. Apart from the technical assistance being provided by the fund, the contributions to Caribbean governments will be used to expand the tools used to support climate adaptation and disaster mitigation with a view spur private investment.

Canada’s High Commissioner to Belize, Rita Rudaitis-Renaud said, “Canada will continue to invest in the special and historic relation that unites the peoples of Canada and the Caribbean, and remains committed to bolstering the climate, economic, and social resilience of Belize.”

Formed back in 2007, the CCRIF is a multi-country provider of policies that are used to limit the financial impact of natural hazard events to governments in the Caribbean and Central American by quickly providing short-term liquidity when a policy is triggered.

 

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