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CDB to allocate additional US$1mn to Haitian microinsurance organization

Bnamericas
The Caribbean Development Bank (CDB) has earmarked the equivalent of an additional US$1mn for its Haitian Microinsurance Catastrophe Risk Organization fund, according to a CDB report. The CDB initially established the fund in July 2011 with a 955,000 British pounds (currently, US$1.5mn) contribution from the UK government. The fund supports the operations of a micro insurance catastrophe risk facility, which helps protect microcredit borrowers in Haiti against losses from natural disasters, according to the report.

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