Jamaica Catastrophe Bond for increased Financial Resilience to Natural Disasters and Climate Shocks (WB-P173012)

Countries
  • Jamaica
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.
Voting Date
Mar 31, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Ministry of Finance and Public Service
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
  • Law and Government
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)
$ 14.85 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)
$ 14.85 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 31, 2020

Disclosed by Bank Jan 22, 2020


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Project Description

According to the Bank's document, this project finances the expansion of the Government of Jamaica's portfolio of disaster risk finance instruments and its financial preparedness to climate and disaster shocks. This will entail the placement of a Cat-Bond instrument onto international capital markets, as well as increased financial coverage against natural disasters. 

Investment Description
  • World Bank (WB)
Contact Information

Implementing Agencies

Ministry of Finance and Public Service: Trevor Anderson, Actg. Principal Director, FPMB I Economic Management Division Trevor.Anderson@mof.gov.jm 

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.