As developing countries struggle to recover from the COVID-19 pandemic, digital solutions are enabling economic transformation and putting them on a path toward green, resilient, and inclusive growth. Private and public investment in digital solutions is bringing critical services to the poorest, creating jobs, strengthening small and medium businesses, enabling trade and services, and building resilience to shocks. At the same time, more than half the developing world remains digitally unconnected, and risks around privacy and cybersecurity are growing worldwide. 

The discussion about the digital revolution highlighted innovative ways countries are using digital technologies.  From digital financial services, to remote schooling, to more inclusive government services, digital solutions are accelerating more equitable and resilient growth. We heard from public and private sector leaders from around the globe about how safe and effective digital technology has become essential to development in the digital age.

With co-financing from a World Bank administered multi-donor trust fund (MDTF), the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) offers sovereign insurance for earthquakes, tropical cyclones, and excess rainfall to Caribbean and Central American countries. Currently, 19 countries in the Caribbean and 3 in Central America have memberships that through the years translated into 54 payouts totaling $245 million benefiting over 3.5 million people.