Prime Minister, Perry Christie said on Wednesday the estimate for the damage caused by Hurricane Matthew in The Bahamas earlier this month is over half a billion dollars.
The government on Wednesday brought a resolution to Parliament to borrow up to $150 million to help cover the cost of relief
efforts related to Matthew and Joaquin, which hit a year ago.
Speaking in the House of Assembly, Christie said Matthew caused “unmeasured personal loss” and great damage to government
buildings, airport facilities and roads.
Christie said the ministry of finance has advised him that Joaquin, which decimated the central and southern islands last October, could cost up to $200 million.
Hurricane Matthew is estimated to have caused $500 million in damage, but could cost up to $600 million, Christie said.
The prime minister noted that the final damage assessments have not been completed.
Joaquin was originally pegged to have caused $100 million in damage.
Noting that the reconstruction efforts since Joaquin are ongoing, Christie explained that the ministry of works has awarded around
$68 million in road and bridge repair contracts.