Vivian Crawford (right), executive director of the Institute of Jamaica (IOJ), shares a light moment with Earl Jarrett (centre), general manager of the Jamaica National Building Society, and Dennis Lalor (left), chairman of Insurance Company of the West Indies. Mr. Jarrett and Mr. Lalor were among the group of panellists participating in the IOJ's forum on the impact of earthquakes, last Thursday. - Contributed

Funds from the National Housing Trust (NHT) could be used to shore up the National Disaster Fund to provide Government with adequate financial resources to respond to natural disasters in a timely manner, according to Earl Jarrett, general manager of the Jamaica National Building Society (JNBS).

Mr. Jarrett put the suggestion forward during his address to a forum on the impact of earthquakes, hosted by the Institute of Jamaica, last Thursday. The forum examined the country's level of preparedness and recovery capabilities if a natural disaster similar to the 1907 earthquake, which measured 6.5 on the Richter scale, should occur.

In his presentation on the 'Financial Implications of Natural Disasters and Ways to Prepare and Respond', Mr. Jarrett said the National Disaster Fund was urgently in need of sustained funding to assist government to respond to disasters in a timely manner.

Adequate funds

"The NHT has adequate funds from the Employers' contributions, which are non-refundable, therefore, monies from this pool could be used to supplement the National Disaster Fund," he stated, adding that access to ready funds would speed up the restoration of national assets and the repair of public buildings, such as schools and hospitals.

His call came against the background of government's move in 2005 to transfer J$5 billion from the National Housing Trust to a special consolidated fund for education.

Mr. Jarrett pointed out that the National Disaster Fund, which was established in 1993 and managed by the Office of Disaster Preparedness and Emergency Management (ODPEM), received an allocation of $50 million from government for this financial year.

Using the preliminary J$3 billion cost of recovery after Hurricane Ivan, he noted that this fund was inadequate for an effective response to a major disaster.

A boost to the National Disaster Fund, Mr. Jarrett explained, would complement the recent announcement that Jamaica was a participant in the establishment of a fund by the World Bank and Caribbean states to insure the region against hurricanes and other natural disasters.