Puerto Rico to get access to $8.2Bn in delayed U.S. disaster-aid funding

• Puerto Rico will be allowed access to $8.2 billion in delayed disaster-aid funding by the U.S. Department of Housing and Urban Development (HUD), the island’s non-voting member of the U.S. House of Representatives.
• The approval of the funds for the U.S. territory’s recovery from Hurricanes Maria and Irma in 2017, which killed about 3,000 people, comes at an opportune time, as hundreds of earthquakes and aftershocks have rattled the island since Dec. 28. The quakes have damaged thousands of buildings and homes.
• Access to the funds should come as a relief for Puerto Rico after ratings agency Moody’s Investors Service said on Tuesday the earthquakes posed a setback in terms of the island’s economic recovery and ability to retain residents and businesses.

(Source:  Reuters)