Jamaica advances NHT transfers, hurricane bond and Melissa recovery support

Jamaica is moving ahead with several recovery and resilience measures following Hurricane Melissa, including renewed National Housing Trust transfers, expanded disaster insurance, faster social support payments and additional assistance for farmers.

Parliament on Tuesday passed a bill to amend the National Housing Trust Act, allowing the Government to continue annual special transfers of $11.44 billion from the NHT to central government. Finance and Public Service Minister Fayval Williams said the Category 5 hurricane had changed the country’s fiscal outlook, with damage estimated at US$12.2 billion, or about 56.7 per cent of GDP. She said the NHT remained financially strong and should be able to keep operating profitably while widening access to housing. The measure is part of revenue plans for the 2026/27 financial year and is expected to run for five years, up to 2031. The bill will next go to the Senate.

Jamaica has also secured about J$31 billion, or US$200 million, in new catastrophe bond coverage ahead of the 2026 Atlantic hurricane season. The World Bank said the deal replaces a US$150 million bond triggered after Melissa struck in October last year, and will provide hurricane protection through 2030. The bond is to be listed on the Singapore Exchange and was structured by Aon Securities and Swiss Re Capital Markets.

Labour and Social Security Minister Pearnel Charles Jr. said phase two of the ROOFS shelter-roof restoration programme will use direct deposits for verified beneficiaries. More than 115,000 people were assessed under phase one, 43,000 were verified, and more than 80 per cent redeemed benefits. A national verification and recovery drive will address invalid TRNs, duplicate applications and unresolved cases, while vulnerable groups will get priority access. PATH applicants who qualify through the assessment system will also move into temporary payment status immediately while checks continue.

Agriculture Minister Floyd Green said $250 million has been set aside for phase two of the Hurricane Melissa farm recovery programme. Support being considered includes vouchers and targeted help for livestock, yam and coffee farmers, along with 5,000 backyard gardening kits and aeroponic towers. The ministry also plans to restore fruit trees, establish 3,000 acres of orchard crops by 2035, continue citrus revitalisation and expand wampoo apple production.

Green said a draft 10-year national agricultural development plan is now ready for stakeholder review. The plan focuses on sustainable production, agribusiness, trade, food security, technology, praedial larceny and the agricultural workforce. Feedback may be submitted through the agriculture ministry’s website and by email.