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LatinNews Daily - 20 November 2020

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In brief: New pay-out for Nicaragua in response to Eta

* The Caribbean Catastrophe Risk Insurance Facility (CCRIF), which helps limit the financial impact of natural hazard events on Caribbean and Central American governments by providing short-term liquidity when required, has announced that it will make a pay-out of US$10.7m to the Nicaraguan government following the passage of Hurricane Eta. According to a press release by the CCRIF, it has already paid an advance of US$3.7m to the Nicaraguan government. The CCRIF cited reports from local and regional sources which indicate that Eta resulted in over 1,700 homes being affected in Nicaragua, with 803 partially damaged and 77 destroyed; 1,500 families being evacuated; 30,000 people accessing shelters, some of which were subsequently damaged by high winds; and approximately 50,000 people being affected by interruptions in electricity provision. Nicaragua was the first Central American country to join the CCRIF, following the signing in 2015 of a Memorandum of Understanding (MOU) between the CCRIF and the Council of  Finance Ministers of Central America, Panama and the Dominican Republic (Cosefin). Two other Central American governments – Guatemala and Panama – are also members of the CCRIF.