The Inter-American Development Bank will provide $100 million to help finance humanitarian and reconstruction efforts in The Bahamas, following widespread loss of life and destruction caused by Hurricane Dorian.
The funds are from a $100 million contingency loan signed in April 2019, to cover unexpected public expenses arising from emergencies caused by severe or catastrophic natural disasters.
The loan disbursement is subject to eligibility requirements including sustained wind speeds, accumulated precipitations and impacted populations. All the requirements were met by the devastation Hurricane Dorian caused in the Abaco and Grand Bahama regions, in the northern Bahamas.
The contingency funding comes on top of an emergency donation of $200,000 provided by the IDB.