Overview
- CAF, the IMF, the World Bank, the Caribbean Development Bank, and the Inter-American Development Bank Group announced the package in a joint statement on Dec. 1.
- Up to $3.6 billion could come as sovereign financing, including as much as $1 billion each from CAF, the IDB, and the World Bank, $200 million from the CDB, and a potential $415 million IMF rapid loan.
- Private-sector arms IDB Invest, IFC, and MIGA are targeting an initial $2.4 billion in mobilized investment to support rebuilding.
- Early liquidity already accessed totals about $662 million, including $91 million from the Caribbean Catastrophe Risk Insurance Facility and $300 million via the IDB’s contingent credit line.
- Hurricane Melissa struck on Oct. 28 as a Category 5 storm, dumping roughly 30 inches of rain, damaging nearly 200,000 buildings, and causing losses estimated near $9–10 billion, with UNDP citing about 30% of GDP.