World Bank provides US$20 million for SVG Soufriére response
THEWORLD BANK on Monday April 12, disbursed US$20 million to support the Government of Saint Vincent and the Grenadines’ response to the crisis posed by the Soufrière volcano eruption.
In a release, the bank noted the number of people who had to be evacuated since the volcano began erupting explosively on April 9, pointing out that the falling ash is causing air quality concerns and interruptions in electricity and water supply.
“Our hearts are with the people of Saint Vincent and the Grenadines during this crisis,” said Tahseen Sayed, World Bank Country Director for the Caribbean.
“We are committed to supporting the response efforts at this critical time when the country faces this new disaster while already managing the social and economic effects of the [ COVID19] pandemic.”
The funds are disbursed from a contingent credit line from the World Bank, known as the Catastrophe Deferred Drawdown Option (Cat-DDO), approved in June 2020. The Cat-DDO instrument is designed to provide immediate liquidity to support a country’s efforts to recover from disasters triggered by natural hazards or a public health emergency.
The bank said In recent years, the Government of Saint Vincent and the Grenadines has been making efforts to strengthen its preparedness and capacity to respond to disasters.