KINGSTON, Jamaica — The Government of Jamaica (GoJ) and the World Bank will host a disaster risk financing forum “Facing the Fiscal Risk of Natural Disasters” today.

Finance Minister, Dr Nigel Clarke and World Bank Vice-President for Latin America and the Caribbean,

 Jorge Familiar will be keynote speakers.

According to the Ministry of Finance, the public forum aims to contribute to a national conversation on strengthening resilience and advancing disaster risk financing managing risks in the context of the increased frequency and severity of natural disasters and the rising impact of climate change.

“Jamaica, like other Caribbean states, is highly exposed to extreme weather events and climate risks. Natural disasters have cost Jamaica an estimated US$1.2 billion between 2001 and 2010. The damages and losses from Hurricane Ivan in 2004 alone exceeded US$350 million. The impact on people’s lives is can be severe, and it is often the poorest that suffer the most from these shocks which are frequently followed by income and productivity losses,” the ministry outlined in a release this morning. 

Other high-level speakers include: Major Clive Davis, Director General of the Office of Disaster Preparedness and Emergency Management; Tahseen Sayed, World Bank Director for the Caribbean; Constant Lonkeng Ngouana, International Monetary Fund Resident Representative; Yuri Chakalall, Inter-American Development Bank Disaster Risk Management Specialist, and Galina Sotirova, World Bank Country Manager.

The forum is scheduled to begin at 5:30 pm at the Jamaica Pegasus Hotel in Kingston.