LatinNews Daily - 25 November 2024

*The World Bank’s board of executive directors has approved US$54m in assistance to support Barbados’ recovery from the impacts of Hurricane Beryl which passed 150km off Barbados’ southern coast on 1 July, causing extensive damage. In a statement the World Bank highlights that the fishing industry was particularly badly affected, with 240 vessels “damaged or destroyed” and the “livelihoods of thousands of people dependent on the sector disrupted and the supply of goods and services across the fisheries value chain impacted.” It also highlights the impact on tourism and housing, with 73% of hotels, apartments, and guest houses, suffering various levels of damage. The World Bank project is expected to benefit approximately 24,640 people and will “focus on rebuilding critical infrastructure, protecting vulnerable communities, ensuring the sustainable recovery of the fishing industry, and enhancing the country’s disaster preparedness capacity, paving the way for a more resilient Barbados in the face of future climate risks.” The same statement cites the World Bank’s director for the Caribbean, Lilia Burunciuc, as saying that “Barbados has been hit by approximately 30 climatic events in the last 30 years. The annual average loss on account of hurricanes alone is estimated at US$48m, which is equivalent to nearly 1% of Barbados’ GDP.”