Washington, D.C., October 18, 2024: The World Bank”s Board of Executive Directors has approved new financing to aid recovery efforts in St. Vincent and the Grenadines, following the devastating impact of Hurricane Beryl in July 2024. The support totals $63 million, stemming from the International Development Association, the World Bank’s support arm for low-income countries.
Hurricane Beryl, a category 4 storm, caused significant damage across the islands, becoming the strongest hurricane to impact the region since 1875. The storm affected 56% of the population, resulting in catastrophic damage across the Southern Grenadines, where over 90% of buildings and critical infrastructure were destroyed. Vital sectors like tourism and fishing, were also impacted, leading to considerable economic losses. Although mainland St Vincent and the Northern Grenadines experienced less damage, approximately 52% of the island’s population suffered significant destruction to housing, transportation infrastructure, and public buildings including schools and fisheries centers.
In response to this unprecedented disaster, the World Bank and the Government of St Vincent and the Grenadines launched a new recovery project which will focus on providing immediate income support to affected communities, restoring economic activity, and rebuilding the island’s critical infrastructure with enhanced resilience to future climate risks. As a part of the project, technical assistance is provided by the Global Facility for Disaster Reduction and Recovery in collaboration with the Canadian-Caribbean Resilience Facility.
“While disasters affect everyone, they often hit vulnerable communities the hardest, leading to increased poverty and inequality,” said Lilia Burunciuc, World Bank Director for the Caribbean. “Through targeted short-term income support and assistance for small businesses, we strive to help those most impacted to start rebuilding their lives.”
The project will prioritize short-term income support by providing temporary income grants to households severely impacted by the hurricane, focusing on vulnerable groups, including women-headed households and those with elderly or disabled members. Small businesses will also benefit from grants and support services will be offered to help them recover. Further, through a Labor-Intensive Temporary Employment program, cash-for-work initiatives will support the restoration of community infrastructure and provide jobs to unemployed individuals.
The Beryl Emergency Resilient Recovery Project will also focus on the resilient reconstruction and restoration of critical infrastructure and services damaged by the hurricane. This includes repairing water systems, public buildings, roads, and bridges, ensuring they are built to withstand future natural hazards.
The project is expected to directly benefit around 18% of the islands’ population, with around 49% of those being women, 9% elderly, and about 43% under the age of 24. Further, the entire population of St Vincent and the Grenadines will experience indirect benefits through the government’s increased capacity to rebuild infrastructure and enhance public resilience.
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Publish date : 2024-10-17 13:00:00
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Author : theamericannews
Publish date : 2024-10-24 14:16:31
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