Ja should stop paying regional disaster fund says McKenzie
With Jamaica having been unable to benefit from a regional insurance fund set up to respond to disasters such as hurricanes, Desmond McKenzie is proposing that the country puts its $460 million elsewhere.
Jamaica pays US$3.7 million, or approximately J$462 million, per year into the Caribbean Catastrophe Risk Insurance Facility (CCRIF).
The CCRIF is an insurance scheme involving CARICOM member countries and some other Caribbean territories that is supposed to provide cover to countries hit by natural disasters.
"The requirements for assistance are so stringent that in order to benefit, an affected country would apparently have to be suffering the 10 plagues brought upon Egypt as recorded in the Book of Exodus," McKenzie, the local government minister, said in Parliament on Wednesday.
McKenzie said that Jamaica should stop contributing to the CCRIF and instead should put the money into the National Disaster Risk Management Fund to help deal with crises that may result from disasters such as hurricanes.