Mexico Receives USD 150 Million from Post-earthquake Insurance

World | October 11, 2017, Wednesday // 12:08| Views: | Comments: 0
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Bulgaria: Mexico Receives USD 150 Million from Post-earthquake Insurance Source: Twitter

Mexico's finance ministry announced a pending USD 150 million insurance deal for the earthquake on Sept. 7, killing 369 people, according to Nova.

"By the activation of the "catastrophic bonds "(Bono catastrofico), Mexico will receive 150 million dollars," the ministry said.

This insurance was acquired by Mexico several years ago with the help of the World Bank through which the funds will be transferred.

The insurance was extended on August 4, i. just over a month before the catastrophic earthquake.

The money will go into a special fund to deal with the consequences of natural disasters and will be used as additional means to recover the damaged infrastructure, the Finance Ministry message says.

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