A pilot catastrophe pool for Pacific island nations has paid Vanuatu $US1.9 million ($2.49 million) for losses incurred during Cyclone Pam last month.

The World Bank operates the pool and takes the risk to the reinsurance market.

It provides aggregate cover up to $US45 million ($59 million) and covers earthquake, tsunami and tropical cyclone, including wind, sea surge and rainfall.

World Bank Country Director for the Pacific Islands Franz Drees-Gross says the payment will finance urgent relief and recovery efforts.

It is the second payment from the pool, which paid out to Tonga in January last year after Cyclone Ian.