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Ratings agency says Jamaica to benefit "significantly" from World Bank's catastrophe bond

Ratings Agency Fitch has assessed that the US$185 million catastrophe bond Jamaica received from the World Bank in July, will "significantly strengthen" the country's disaster risk mitigation strategy.
 
The report released on Thursday says Jamaica loses an estimated US$125 million on average per year due to adverse weather shocks such as flooding and hurricanes. 
 


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