Prepare disaster insurance fund

The countries in the Caribbean Sea are more vulnerable to natural disasters, which can be more reassuring to the Caribbean Disaster Insurance Fund set up by the World Bank (WB) yesterday.

This is the first insurance fund in the world for 18 countries in the region to overcome the consequences immediately after a major storm, earthquake. Specific insurance plans will be launched before the Caribbean hurricane season in June, according to Caroline Anstey - director of the Caribbean's World Bank.

The World Bank established this disaster insurance fund after scientists warned that weather changes would make storms stronger. Depending on the severity of natural disasters, countries will have to pay an annual fee of $ 200,000 to $ 4 million and receive insurance of $ 10-50 million for each accident.

Canada, Japan, Britain, France and the European Union met in Washington (USA) to contribute money to the fund's reserves (about US $ 30-50 million). So far, every time a big storm or earthquake occurs, it takes many months of aid from new aid countries to get help.

Trinida city peripheral (Bolivia) submerged in water. Bolivia is suffering from massive floods that killed 35 people and affected more than 70,000 families (Photo: Reuters).

M.HUY