St. Vincent and the Grenadines launched the US$44 million Volcanic Eruption Emergency Project (VEEP) on Thursday 28 July.
Under VEEP, the government will be better prepared to respond to potential emergencies and restore critical services after the eruptions of the La Soufriere volcano.
Camilo Gonsalves, the finance minister, estimated the damage and loss from the eruption at around 750 million dollars.
“We lack that money, the World Bank helped us secure a soft loan of US$42 million and a European Union grant of US$2 million.”
According to Gonsalves, over the course of the project, close to 3,700 families will receive $2.2 million in income support. The payments will be done through debit cards.
In addition to alleviating security concerns, using debit cards eliminates the embarrassment that some people experience when lining up to receive public handouts, Gonsalves said.
A total of 15,000 people will benefit from the improved utility infrastructure, improved services, and rehabilitated roads and bridges under the VEEP project.
The water supply system will be rehabilitated with a focus on operational capacity.
A total of U.S$7.5 million will be allocated for the early recovery income support component, which includes two subcomponents: temporary cash transfers and social support services and the Labour-Intensive Temporary Employment Programme (LITE).
U.S $29.9 million will be spent on restoring and building back better critical services and strengthening emergency preparedness and response capabilities.
A total of U.S$3.5 million is allocated for project management support.
