This year the IDB expects to provide over US$500M to help Latin America and the Caribbean prepare for emergencies caused by natural disasters of severe or catastrophic magnitude.
In a press release, the Inter-American Development Bank (IDB) said financial disaster preparedness is a growing concern in Latin America and the Caribbean, after the region experienced devastating earthquakes in Chile and Haiti and an active hurricane season that impacted Central America and Mexico. In addition, the La Niña weather phenomenon caused severe flooding in Venezuela, Colombia and Brazil and other countries.
“Natural disasters can put a country’s fiscal accounts in disarray, undermining the government’s ability to respond to emergencies and implement actions to
