Overview
- The government pegs Melissa’s toll at about $10 billion, with only $500 million covered by pre-arranged reserves and insurance, leaving a roughly $9.5 billion shortfall.
- At COP30 in Belém, Cabinet Minister Matthew Samuda is asking wealthy nations for grants, investment and concessional finance, rejecting commercial borrowing for reconstruction.
- Pre-positioned tools delivered rapid but limited liquidity, including a $150 million World Bank catastrophe bond payout and about $90 million from parametric insurance.
- The Category 5 storm struck on October 28 with a reported 17-foot surge and roughly 30 inches of rain, damaging 192,000 buildings and battering tourism, agriculture and infrastructure.
- Scientists report human-driven warming made Melissa about 30% stronger and six times more likely, as calls grow for credible adaptation finance and tighter definitions after reviews found questionable projects counted as climate aid.