Work continues on the first catastrophe bond for Jamaica and the World Bank has highlighted how the soon to be launched transaction will help to narrow the Caribbean nations natural disaster financing gap.

As yet, the World Bank’s catastrophe bond for Jamaica has not come to market, but it is expected within the coming two months or so, in advance of the peak of the 2021 hurricane season.

Jamaica’s catastrophe bond has been a work-in-progress for some years now, as we’ve documented regularly, but was forcibly delayed due to the Covid-19 pandemic in 2020, as financial market volatility from the coronavirus outbreak put the Caribbean island nations’ first cat bond issuance on-hold, Jamaica’s finance minister previously said.

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