Caribbean Ocean and Aquaculture Sustainability FaciliTy (COAST) Project (WB-P171321)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Caribbean Catastrophe Risk Insurance Facility SPC
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Jan 13, 2020

Disclosed by Bank Nov 25, 2019


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Project Description

According to the Bank's document, this project aims to finance insurance for climate-related events that impact the fisheries sector. This will entail the following: (i) enabling the Borrower to provide the only available catastrophe coverage for the fisheries sector to the participating countries; and (ii) assisting participating countries in purchasing the newly-available insurance. 

Investment Description
  • World Bank (WB)
Private Actors
Contact Information

Implementing Agency

Caribbean Catastrophe Risk Insurance Facility: Isaac Anthony, CEO. ccrif.ceo@gmail.com

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.