By Chantalé Fletcher
THE World Bank Board of Executive Directors approves US $40 million towards the Volcanic Eruption Emergency Project in Saint Vincent and the Grenadines.
A release from the World Bank on Tuesday stated, “The project was also financed by a US $2 million grant from the European Union’s Caribbean Regional Resilience Building Facility, managed by the World Bank’s Global Facility for Disaster Reduction and Recovery.”
World Bank Country Director for Caribbean Countries, Lilia Burunciuc said, “The people of Saint Vincent and the Grenadines have endured the twin shocks of the volcanic eruption and Covid-19. The project will help the country build back better while taking into account its vulnerability to natural disasters and the growing threat of climate change.”
She added it will also support the government’s efforts to restore infrastructure, stimulate economic activity, and assist the most vulnerable in the population, particularly women. “We hope that this project will be a catalyst for growth and strengthen the country’s resilience.”
The World Bank recalled the explosion of the La Soufrière volcano in April 2021 which damaged critical services, infrastructure, and agriculture that affected the population of St Vincent, and resulted in the evacuation of 22, 400 from areas close to the volcano to stay in shelters for months.
The Volcanic Eruption Emergency Project will support the rapid restoration of critical infrastructure damaged by volcanic eruptions, improve the government’s capacity to respond to future emergencies.
“The World Bank provided US$20 million to Saint Vincent and the Grenadines to address immediate needs, and the Bank allocated a further US$50 million for budget support in June 2021.”
Moreover, the Volcanic Eruption Emergency Project.
