The Borrowing Member Countries (BMCs) of the Caribbean Development Bank (CDB) by virtue of geography, are highly exposed to several natural hazards, including hurricanes (TC), earthquakes (EQ), storm surges, tsunamis, volcanic eruptions, floods, and droughts. Disasters resulting from these natural hazards seriously threaten the Caribbean’s progress towards sustainable development. In an International Monetary Fund (IMF) 2016 report, it is stated that 9% of disasters in small states result in damage of more than 30% of Gross Domestic Product (GDP). In comparison, larger states have damage of less than 1% of GDP in disasters. Greater exposure to disasters has important and varied macroeconomic effects on small states, resulting in lower investment, lower GDP per capita, higher poverty, and a more volatile revenue base1. The Caribbean region continues to experience a disproportionately high share of global disaster impacts relative to its economic and demographic size.