Caribbean Regional Resilience Building Facility

The Caribbean Regional Resilience Building Facility is a partnership between the European Union, GFDRR and the World Bank. The objective of the Facility is to enhance the long-term disaster resilience and adaptation capacity for the most vulnerable in the Caribbean region. This will be achieved through a comprehensive evidence-based effort, using various advisory and financial services and analytics available, to strengthen the capacity for disaster risk reduction and financial resilience at regional and national levels, as well as through co-financing of investments in resilience.

Activities of the Facility will cover the following beneficiary countries: Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Dominican Republic, Grenada, Guyana, Haiti, Jamaica, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, Suriname and Trinidad and Tobago.

The program has three operational components:

1. Regional Technical Assistance Facility to Mainstream Resilience. Activities within this component focus on providing institutional, policy, or regulatory advice to beneficiary countries on a demand-driven basis to strengthen the administrative and technical capacities for advancing recovery and resilience in key development sectors.
2. Adaptation Facility for Leveraging Investments in Resilience in the Caribbean. Activities within this component focus on generating evidence-based information to support beneficiary countries as they make critical decisions on where to invest resources to become resilient and adapt to climate change. This technical advice, helps countries develop sector-specific probabilistic risk assessments to prioritize public investment plans in critical areas, which include: safe schools, shelters, public buildings, transport infrastructure, urban resilience, ecosystem-based adaptation, coastal zone management, flood mitigation measures, retrofitting of key infrastructure and integrated watershed management. Under this component, grants will be made available to either directly co-finance resilience investments or to finance ancillary technical assistance or financial services related to these investments.
3. Expanding Financial Protection Against Disasters in the Caribbean Sovereign Countries. Activities within this component support beneficiary countries in expanding their coverage under the Caribbean Risk Insurance Facility – Segregated Portfolio Company (CCRIF-SPC) and related insurance and risk-reduction mechanisms. Specific activities build on CCRIF SPC’s current expansion plan, which includes increasing the portfolio size by improving the coverage limits of existing members, offering new products, and expanding membership. This component also aims to enhance countries’ understanding of financial protection products that target vulnerable populations and reduce the hazard risk to low-income housing.