CDB TO PROVIDE HURRICANE RELIEF FINANCING TO BORROWING MEMBER COUNTRIES AFFECTED BY HURRICANE SANDY
The Caribbean Development Bank (CDB) has offered to provide the Government of the Commonwealth of The Bahamas, the Government of Jamaica and the Government of Haiti with financial assistance for their recovery efforts in the wake of the passage of Hurricane Sandy. In accordance with the Bank's Disaster Management Strategy and Operational Guidelines, CDB is offering to provide Emergency Relief Grants of USD200,000 to each country to assist with emergency relief efforts. The Bank has also offered Immediate Response Loans of USD750,000 on concessionary to The Bahamas and Jamaica, for cleaning and clearing affected areas and for emergency restoration of services. One person is reported to have died in Jamaica when the island took a direct hit from Hurricane Sandy on Wednesday, October 24, 2012. At that time it was classified as a Category 1 hurricane. Hurricane Sandy was a Category 2 hurricane when it struck the Bahamian archipelago between Thursday October 25, 2012, and Saturday October 27, 2012. The weather system had maximum sustained winds of approximately 80 mph, with higher gusts and rainfall accumulating up to 6 to 12 inches. Hurricane Sandy impacted several islands in the Southeastern, Central and Northwestern Bahamas. It is reported that significant impacts occurred on the islands of Grand Bahama and Long Island. One death was reported by authorities there. In Haiti, while Hurricane Sandy did not make direct landfall, heavy rains and strong winds associated with the system severely impacted the country. More than 50 persons were killed and up to 1.8 million affected. Overflowing rivers, and flooding caused significant damage to roads, bridges, schools, hospitals and homes. CDB President, Dr. Warren Smith, said "We very much regret at the loss of life and damage done to social and economic infrastructure, and the Caribbean Development Bank stands ready to assist in any way that we can."