LatinNews Daily - 05 November 2020

* Honduras’s finance minister, Marco Midence, has announced that the Honduran government has requested the advance transfer of the U$35m from the Green Climate Fund (GCF) at the Inter-American Development Bank (IDB) which is earmarked for the country to help address the emergency caused by tropical storm ‘Eta’. The GFC is a US$2.5bn fund created last year to finance projects and programmes designed to mitigate the negative effects of climate change, and to help countries adapt to this. Eta, which was initially classed as a hurricane but was downgraded to a storm after making landfall on the Central American isthmus on 4 November, has produced severe flooding in Honduras. Midence explained that the government has had to redirect a part of the outstanding national budget to offer emergency assistance to the affected population, and to mitigate the economic impact of the damage caused by the storm. “That is why we ask the IDB to make this advance transfer in support of the population”, Midence said, insisting that the government only has “limited resources” to face the emergency.

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