(MENAFN- Caribbean News Global) WASHINGTON / JAMAICA – The Inter-American Development Bank (IDB) expanded its Emergency Credit Line for Jamaica and stands ready to support the country in its emergency response to hurricane Melissa.

The bank is ready to provide upon government request up to US$300 million in fast-disbursing resources to support humanitarian assistance, restore essential services for the population, and back other emergency measures being implemented.

These funds are part of the IDB Contingent Credit Facility (CCF) originally approved in 2018 to help the country respond to natural disasters and other emergencies. This week, the IDB's board of executive directors expanded the total available amount in the credit line to US$400 million, reinforcing its commitment to Jamaica's resilience and recovery efforts.

“We are working hand-in-hand with the government of Jamaica and its partners to address the devastating impacts of hurricane Melissa,” said IDB Group president Ilan Goldfajn.“This expanded facility enables Jamaica to respond rapidly and effectively, while also strengthening its long-term resilience to future disasters,” Goldfajn added.

In addition, the bank is making available other instruments to support the recovery response, including:

• Emergency technical cooperation grant of up to US$500,000, subject to approval by the IDB board of executive directors, to cover urgent humanitarian needs.
• Immediate response facilities that can finance rehabilitation efforts of up to US$20 million per project.
• Reformulation of existing projects with the bank to redirect resources toward disaster-related expenses and accelerate recovery efforts.

In the past two years, the IDB has worked with the country to expand its financial protection. Besides expanding its CCF, the bank also signed a Memorandum of Understanding with the World Bank to extend support for the region, including Jamaica, on the effective use of the complementary instruments that strengthen both the reserve fund and existing risk-transfer mechanisms.

In addition to financial support, and in alignment with the climate resiliency pillar of the regional program ONE Caribbean, the IDB has worked closely with Jamaica to strengthen its institutional capacity and improve its ability to respond effectively to disasters. Earlier this year, the Bank provided training and conducted simulation exercises with national entities to enhance preparedness, efforts that can enable faster and more coordinated emergency responses. Similar initiatives have been successfully carried out in The Bahamas, Belize, Panama, and the Dominican Republic, reinforcing regional resilience and readiness.

Coordination is also underway with the European Union, the United Kingdom, the World Food Programme, and other regional and international partners.

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