Grenada: National Water and Sewerage Authority receives US$2.2M from CCRIF

The National Water and Sewerage Authority of Grenada has received EC$5.9 million, or US$2.2 million, from the Caribbean Catastrophe Risk Insurance Facility (CCRIF).

Hurricane Beryl caused damage to water and wastewater systems in Grenada and the islands of Carriacou and Petite Martinique.

The payout falls under CCRIF's newest parametric insurance product, the Caribbean Water Utilities Insurance Collective Segregated Portfolio.

The insurance product was launched in September 2023 by CCRIF in collaboration with the Inter-American Development Bank, the UK Foreign, Commonwealth, and Development Office, and the Caribbean Development Bank.