Jamaica is ready to profit from a grant of as much as US$500,000 to strengthen its catastrophe resilience and restoration capability below a brand new regional Catastrophe Threat Discount Programme for the Caribbean.
The initiative, supported by the European Union (EU), is being spearheaded by means of a collaborative effort involving the United Nations Improvement Programme (UNDP), the United Nations Workplace for Catastrophe Threat Discount (UNDRR), the United Nations Youngsters’s Fund (UNICEF), and the World Meals Programme (WFP).
UNDP Resident Consultant for Jamaica, Kishan Khoday, introduced the upcoming launch of the programme on Tuesday, June 10, throughout a Hurricane Prepared & Resilient discussion board hosted on the UNDP’s Multi-Nation Workplace in Kingston. The discussion board introduced collectively micro, small and medium-sized enterprise (MSME) stakeholders to debate hurricane preparedness and resilience constructing.
Khoday emphasised that the funding can be channeled into enhancing nationwide capability for catastrophe preparedness and restoration, significantly by means of scaling up coverage frameworks, institutional constructions, and financing mechanisms.
“The programme could have essential region-wide outcomes but additionally devoted nation grants, for instance, of as much as half 1,000,000 US {dollars} right here in Jamaica,” he stated. “Choices for embracing loss and harm finance, and different insurance policies round loss and harm, could be a key consequence of this new cooperation.”
Highlighting the vulnerability of MSMEs to disaster-related shocks, Khoday burdened the significance of tailor-made catastrophe preparedness plans, elevated monetary help mechanisms, and modern partnerships.
“We want complete catastrophe preparedness plans tailor-made particularly for MSMEs, the sources to construct that resilience and early restoration. By enhancing monetary help mechanisms, together with from new loss and harm financing mechanisms, we will broaden reduction past grants to accessible insurance coverage schemes and personal partnerships as properly.”
Khoday pointed to Jamaica’s distinctive place as a small island creating state to function a mannequin for resilience and inclusive restoration. He famous that catastrophe danger resilience stays a central pillar of the UNDP’s world work, with US$100 million allotted yearly to such efforts.
The forthcoming Catastrophe Threat Discount Programme goals to help Caribbean nations in constructing local weather resilience, adopting modern financing options, and making certain that nobody is left behind within the face of rising local weather threats.
