Sectoral Recovery Capacity Assessment Report for Grenada’s Housing Sector

Investment Rating - The report does not explicitly provide an investment rating for the housing sector in Grenada Core Insights - Grenada's housing sector is highly vulnerable to natural hazards and climate change, necessitating urgent improvements in recovery capacity to ensure timely and effective disaster recovery [25][50] - The Sectoral Recovery Capacity Assessment (SRCA) indicates that the capacity for implementing resilient and inclusive recovery projects in Grenada's housing sector is currently basic or incipient, highlighting significant gaps in knowledge and resources [25][26] - The assessment emphasizes the need for gender-responsive and disability-inclusive recovery strategies, which are critical for enhancing resilience in the housing sector [25][26] Summary by Sections Introduction - The Caribbean region faces significant disaster risks, with Grenada experiencing economic losses averaging 3.6% of GDP annually due to natural hazards [50] - The SRCA aims to identify capacity gaps and opportunities for investment in Grenada's housing sector to enhance recovery efforts [53] Housing Sector Overview - The housing sector in Grenada is prioritized for recovery assessments due to its economic importance and vulnerability to disasters [25][57] - The assessment identifies critical needs for technical and human resources to improve disaster risk management (DRM) in the housing sector [25][26] Assessment Implementation Process - The SRCA was conducted through a consultative process involving key stakeholders, including government agencies and community representatives [25][57] Results Overview - The assessment categorized existing recovery capacity into three main components: Governance, Competencies, and Resources and Tools, with varying Recovery Capacity Index (RCI) scores indicating areas needing improvement [28][30] - Key findings reveal that governance structures and institutional responsibilities for recovery are underdeveloped, with RCI scores indicating a need for significant enhancements [30] Recommendations - The report outlines strategic recommendations for integrating resilient recovery considerations into national policies and planning processes, emphasizing the importance of finalizing disaster management plans and enhancing funding mechanisms for homeowners [33][34] - It suggests building specialized knowledge and skills within the housing sector to facilitate effective recovery interventions [33][34]