Belize, Aug. 14 -- Belize will be able to access emergency funds more rapidly after a major hurricane thanks to a pioneering catastrophe swap executed by the Inter-American Development Bank (IDB), strengthening the country's financial resilience and ability to respond to disasters over the next two hurricane seasons. Under the transaction, the IDB arranged the transfer of a layer of Belize's hurricane risk to international reinsurance markets through Swiss Re, which provides the underlying parametric coverage. The protection runs from August 1, 2026, through May 31, 2028, ensuring quick access to financing when pre-agreed hurricane triggers are met. The transaction provides up to $20 million in coverage, subject to a maximum payout of $10 m...