The Central Bank of the Bahamas announced the CBDC to help the economy recover and rebuild after the disaster.

According to CoinDesk on July 15, the Central Bank of the Bahamas announced that it is moving towards a full-fledged CBDC (mobile-based digital services) launch. The Bahamas struggled to recoup $3.4 billion in losses from Hurricane Dorian in September. Partly because of the biggest storm in Bahamian history which tore through the archipelago's offline banking and payments. The Central Bank of the Bahamas said in a statement that some banks and ATMs have been offline for several months. The Central Bank of the Bahamas believes that enhanced CBDC capabilities in mobile phones could lead to a recovery in the future. We hope this will support important tools for recovering damages, such as accepting insurance claims.