22nd February, 2018 The government of Tonga received a US$3.5 million payout through the Pacific Catastrophe Risk Assessment and Finance Initiative (PCRAFI) following severe damages from Tropical Cyclone Gita.
PCRAFI offers Pacific governments insurance against climate and seismic hazards including cyclones, earthquakes or tsunamis. The programme is designed to quickly dispense payout to provide governments with immediate access to liquidity for a disaster response.
At the 2015 Commonwealth Summit, the UK Prime Minister announced £15 million of support towards PCRAFI, helping vulnerable Pacific countries to gain private sector insurance against natural disasters.
“My thoughts are with the people of Tonga as they commence recovery efforts following Tropical Cyclone Gita. The UK Government recognises the vulnerability of many Pacific nations to extreme weather events and is pleased we are able to support Tonga in its recovery through this innovative programme” said British High Commissioner to Tonga Her Excellency Melanie Hopkins.
PCRAFI currently provides disaster risk insurance cover for the Cook Islands, Marshall Islands, Samoa, Tonga and Vanuatu. The insurance is delivered through the Pacific Catastrophe Risk Insurance Company based in the Cook Islands.
ENDS
British High Commission
Suva
Victoria House, 47 Gladstone Road, PO Box 1355, Suva, Fiji, Tel: 679 3229111 or 3229116 (D/L), 679 3229100 (S/B), Fax: 679 3229132 Mobile: 679 9907698, email:publicdiplomacysuva@fco.gov.uk, website: http://ukinfiji.fco.gov.uk