"In light of Hurricane Dorian and the related Federal declaration of a state of emergency for Puerto Rico, the Financial Oversight and Management Board has authorized utilization of Emergency Reserve funds from fiscal years 2019 and 2020 as needed by the Government of Puerto Rico without prior Oversight Board approval of reapportionments through September 28, 2019," the statement said on Wednesday. "The $260 million in aggregate funds can only be used for Hurricane Dorian emergency-related expenses."
Oversight Board Executive Director Natalie Jaresko said they are hopeful the hurricane will pass without causing major damage to Puerto Rico.
Earlier on Wednesday, the National Hurricane Center said the Hurricane is expected to make landfall on Puerto Rico and the US Virgin islands within the next six to 12 hours.
The Puerto Rican islands of Vieques and Culebra also lie in Dorian’s path, in a likely test of hurricane preparedness with the US territory still recovering from hurricane Maria in 2017.
President Donald Trump has declared a state of emergency and ordered US federal assistance for local authorities.