The World Bank is working with four countries from the Organization of Eastern Caribbean States Commission (OECS), Dominica, Grenada, Saint Lucia, and Saint Vincent and the Grenadines, to strengthen their climate resilience and with three risk transfer options being explored, a catastrophe swap, catastrophe bonds, or securing more parametric insurance.
The World Bank notes that while the impacts of climate change pose increasing challenges and risk, there are opportunities to enhance resilience while achieving development goals for these Caribbean countries.
Analysis has been undertaken to estimate investment needs required to safeguard the development goals of the four countries from climate impacts.
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