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$117.9M supplementary budget approved By: Dayle Da Silva• Parliament on May 11 approved EC$117.9 million towards providing immediate humanitarian aid and preliminary clean-up. Minister of Finance, Camillo Gonsalves said that the amount quoted in the Supplementary Appropriation Bill is financed almost 100 percent by capital receipts.  This EC$117.9 million budget is financed by money in hand or imminently on hand in the case of commitments from international financing entities that are completing their own bureaucratic processes,” Gonsalves explained.  Among the contributing sources are:  the Contingency Fund - EC$15 million; World Bank/Catastrophe Deferred Drawdown Option – EC$54 million; the Caribbean Catastrophe Risk Insurance Facility – EC$5.9 million; the Eastern Caribbean Central Bank – EC$1 million; the Caribbean Development Bank – EC$13.4 million, the International Monetary Fund - $16.1 million and the World Bank’s International Association – EC$4.9

Camillo gonsalvesWorld bank international associationInternational monetary fundParliament onContingency fundWorld bank catastrophe deferred drawdownEastern caribbean central bankCaribbean development bankFinance ministerDayle da silvaSupplementary appropriation billCatastrophe deferred drawdown optionCaribbean catastrophe risk insurance facilityWorld bankInternational associationOrange zone