Here is the converted article in markdown format:

Strengthening Resilience Against Climate Change in Grenada

Grenada, a small island nation in the Caribbean, has been severely impacted by natural disasters and climate-related events. In response, the country is taking proactive steps to strengthen its resilience against these risks.

A Review of Past Disasters

In 2017, Grenada reviewed its past rainfall-related disasters and sought donor assistance to purchase natural hazard insurance at an increased level of coverage. Unfortunately, the calculation showed that losses did not trigger a payout from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) and Special Privilege Clause (SPC).

Implementing Resilience Measures

To address this vulnerability, Grenada has implemented several resilience measures in recent years. One such initiative is the “Grenada Second Fiscal Resilience and Blue Growth Development Policy Credit” worth $20 million, provided by the World Bank. This credit aims to provide contingent financing in the event of natural disasters while supporting the country’s reform program.

Another key project is the “Climate Resilient Water Sector in Grenada,” which will receive $49.9 million from the Ministry of Finance, Planning, Economic Development and Physical Development, as well as the German Agency for International Cooperation (GIZ). This initiative aims to:

Reduce water demand
Increase water availability
Establish a Water Resource Management Unit

Green Climate Fund Country Program

Additionally, Grenada is working on its Green Climate Fund (GCF) country program, which will support readiness activities for GCF project proposals. Nine projects are currently in the pre-feasibility stage.

Enhancing Resilience

These efforts aim to enhance Grenada’s ability to respond to natural disasters and climate-related events, ensuring that fiscal policies are not disrupted by such occurrences.

For more information on Grenada’s resilience measures, please refer to:

Source: World Bank 2018