The government of Jamaica is keen to share its experience as a catastrophe bond sponsor and wants to encourage other nations in the region to consider joining it in sponsoring a Caribbean catastrophe bond, to cover multiple countries, a report states.
According to a story from Barbados Today, Jamaica’s Minister of Finance Nigel Clarke has discussed the idea during a panel discussion as part of the World Bank Group and IMF Spring Meetings this week.
Artemis reported recently on the fact that Caribbean nations have been discussing this possibility with the World Bank, with a multi-country catastrophe bond for the region seen as an efficient way to access disaster risk financing and insurance capacity from the capital markets.
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