Jamaica To Benefit From US$5 Million Investment By USAID

Jamaica is to benefit from a US$5 million investment by the United States Agency for International Development (USAID), to improve the nation’s financial and economic resilience to safeguard against losses during natural disasters.

Jamaica Mission Deputy Director, Jason Fraser, said the USAID signed a Memorandum of Understanding (MOU) with the Ministry of Finance and Public Service last year, and through the agreement, both parties are working together to strengthen the country’s disaster risk mitigation efforts. 

Mr. Fraser was speaking at a session hosted by the Minister of Science, Energy and Technology, Hon. Fayval Williams, at the 4th Energy Climate Partnership of the Americas (ECPA) Ministerial Meeting, at the Montego Bay Convention Centre, St. James, on February 27.

“The USAID plans to invest US$5 million which will complement the already US$14.85 million in the Global Risk Financing Facility (GRiF) and the US$16 million already set aside by Jamaica in its Disaster Contingency Fund,” Mr. Fraser said.

“The truth is we can’t escape the wrath of Mother Nature or other external shocks but we can plan and put measures in place that will help to mitigate losses and speed up recovery. Supporting the energy sector in planning for the risk of natural disasters to ensure that the power system in Jamaica is reliable, is a top priority for us,” he added.

Mr. Fraser pointed out that when external shocks such as natural disasters disrupt electric grids and water supply systems, critical infrastructure, such as hospitals, shelters, police stations and military installations are impaired and may not be able to deliver life-saving services.

He shared that in Jamaica, the USAID is focusing on two important elements, one of which is framing the cost that external shocks such as natural disasters will generate. The other is ensuring that Jamaica’s energy sector, which is vital to operations, is robust enough to face threats.