Story perspectives

World Bank Grants Jamaica $150M for Hurricane Recovery

11/9/2025

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Summary

Story summary

The World Bank announced Jamaica will receive a $150 million payout from its catastrophe bond after Hurricane Melissa.
The bond, issued in 2024, was triggered after AIR Worldwide Corporation confirmed the hurricane met pre-agreed conditions.
Jamaica's disaster risk financing strategy has been recognized as a model for other nations, and the payout funds its reconstruction.
The World Bank will assist in rebuilding stronger infrastructure and restoring livelihoods.

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Story summary

The World Bank announced Jamaica will receive a $150 million payout from its catastrophe bond after Hurricane Melissa.
The bond, issued in 2024, was triggered after AIR Worldwide Corporation confirmed the hurricane met pre-agreed conditions.
Jamaica's disaster risk financing strategy has been recognized as a model for other nations, and the payout funds its reconstruction.
The World Bank will assist in rebuilding stronger infrastructure and restoring livelihoods.