Roseau, Dominica – December 19, 2007………… Dominica has become the first country out of sixteen in the Caribbean to benefit from its participation in the Caribbean Catastrophic Risk Insurance Facility (CCRIF) following the presentation of a cheque for US$279,338.14, which represents 50% of the estimated full pay-out.
Dominica was struck by an earthquake which measured 7.3 on the richter scale on Thursday, November 29th 2007.
At a ceremony at the Financial Centre last week, Dr. Simon Young of CCRIF presented the cheque to Prime Minister and Minister for Finance, Hon. Roosevelt Skerrit.
According to Prime Minister Skerrit, the issue of an insurance which would assist Caribbean countries to respond to disaster situations, “has been discussed for a very long time”. After the passage of Hurricane Ivan in Grenada in 2004, Caribbean countries again made a call to the donor community, more particularly the World Bank for assistance to develop such a facility.