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15 Nov 2017 description

Mexico and the Caribbean Development Bank (CDB) have approved a grant of USD14 million to CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility). CCRIF provides parametric insurance coverage for government risk to Caribbean and Central American countries.  This form of insurance is designed to limit the financial impact of catastrophic natural events, such as hurricanes and earthquakes, by quickly providing short-term liquidity when a policy is triggered.