WASHINGTON, DC — INTERNATIONAL agencies are stepping in to support Jamaica as the nation continues to recover from the devastating impact of Hurricane Melissa, pledging up to US$6 billion in assistance.
Among those partners is the International Monetary Fund (IMF), which has committed US$415 million in emergency financing. Once approved, those funds are expected to be disbursed early next year.
Speaking during the IMF’s December press briefing, Director of Communication Julie Kozac confirmed to SKNVibes News that Jamaica has formally requested support under the large natural disaster window of the Rapid Financing Instrument (RFI).
According to Kozac, the financing will draw on the Global Rapid Post-Disaster Damage Estimation (GRADE) initiative — led by the World Bank in collaboration with the Inter-American Development Bank (IDB). Preliminary assessments from the GRADE programme estimate that physical damage from Hurricane Melissa could total US$8.8 billion, which Kozac noted represents “41% of Jamaica’s GDP.”
“It makes Hurricane Melissa the costliest hurricane in Jamaica's recorded history,” she said. “The authorities in Jamaica are continuing to assess the damage and relief and recovery efforts are underway. I want to clarify that the rapid financing instrument that Jamaica requested is meant to be exactly this — a rapid financing instrument.”
Kozac also emphasized that the RFI carries no conditionality, with funds designed for immediate deployment.
“Our team is working closely with the authorities and we are aiming to seek Executive Board approval for the RFI early next year,” she explained. “It comes in one single disbursement. Once the Executive Board approves, the disbursement would be made, and it would come as one disbursement.
“As we announced recently, we are coordinating closely with development partners and the Jamaican authorities. There was a joint discussion with other development partners and the Prime Minister of Jamaica just a few days ago. We are working with other development partners to assemble a comprehensive package of up to US$6.7 billion over three years to help strengthen Jamaica's recovery and reconstruction.”
Since the hurricane’s landfall, Jamaica has received praise for its proactive disaster risk financing framework, which enabled the rapid deployment of emergency funds. In a recent statement, the IMF highlighted that the framework allowed for US$662 million in immediate liquidity through the following sources:
US$37 million from the Government of Jamaica’s Contingency Fund and National Natural Disaster Reserve Fund
US$91 million from the Caribbean Catastrophe Risk Insurance Facility (CCRIF)
US$150 million from the World Bank Group Catastrophe Bond
US$300 million from the IDB Contingent Credit Facility (CCF)
US$42 million (scalable to US$84 million) available upon request under the World Bank Group’s Catastrophe Deferred Drawdown Option (Cat DDO)
Meanwhile, recovery operations continue across the island as authorities work to clear debris, locate survivors, and retrieve bodies from the hardest-hit areas.
