It has always been seen as wisdom to save for the rainy day, well Bahamas is doing that literally. Climate changes can cause many adverse effects on the environment making it unbearable to stay in, Bahamas know this and are thus planning to combat this using a $100 million loan from the Inter-American Development Bank (IDB).
According to the Washington based body, Bahamas is expected to use the funds get set for any eventualities that may occur from natural disasters. Bahamas will be using the money to boost public expenses that may be resultant from the natural disaster emergencies.
The move will ensure that the country has an efficient risk management system through the improvement of five policy areas. The territory is quite prone to natural disasters, most popular are hurricanes. In the last 50 years Bahamas has been hit with 18 hurricanes. In the last three years 3 hurricanes have passed through the region causing lots of damage.
The funding will ensure that the Bahamian government is prepared for the emergencies and speed up response time, thus reducing the impact of natural disasters.