The Banana Industry Catastrophe Fund

The Jamaica Banana Industry’s Catastrophe Fund was established in 2007 through seed funding from the European Union Banana support programme. The aim of this fund is to provide assistance to commercial banana and plantain growers in order to facilitate rapid recovery of farms following windstorms and other catastrophic damage. The Fund is governed by procedures outlined in the Jamaica Banana Industry’s Catastrophe Fund’s Operation Maunal.

What comprises a Catastrophe?

A catastrophe is considered to be a great and sudden disaster affecting a large number of growers in a wide geographic area. This can take the form of high winds, flood, drought or other stimuli. For a Catastrophe to be declared however, there must be 50% or more damaged to registered plant production units (matts) in a given geographic area.

Guiding Principles

  • The Fund is managed by the Banana Board, steered by the Catastrophe Fund Oversight Committee (CFOC) and guided by the Catastrophe Fund operations manual.
  • The Fund is available to all commercial banana and Plantain growers in Jamaica
  • For growers to receive benefits they must voluntarily register with the Fund annually ( before January 31st)
  • Growers must possess at least one acre of healthy Banana/Plantains with at least 500 mats to benefit from the Fund.
  • Participants must make annual reports on banana and plantain production and sales.

Compensation

Compensation is provided in the form of material supplies. There is no fixed compensation rate as the amount paid depends on the level of damage and the quantity of funds available.

Exclusion from the Fund

  • Farmers who are not registered under the fund or who had been deregistered.
  • Farms with sub standard husbandry or production levels well below that advocated by the Banana Board.
  • Farmers who knowingly submit false or misleading information.
  • Abandoned farms
  • Farms or part(s) there of that are not intended for recovery
  • Farmers who engage in violent activities to extort financial assets from the Fund.

 

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Contact Information
Banana Board
10 South Ave
Kingston Gardens
Kingston 4, Jamaica
Tel: (876) 922-5490
(876) 922-4327
Email: bananaboard@cwjamaica.com

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