WASHINGTON, May 3, 2017 – The World Bank’s Board of Executive Directors today approved the following project:
The Disaster Risk Management Policy Loan with a Catastrophe- Deferred Drawdown Option (CAT-DDO)
IBRD Loan: EUR 66.1 million (US$70 million equivalent)
Terms: Maturity = 20 Years, Grace = 10 Years
Project ID: P157489
The program development objective of the Disaster Risk Management Policy Loan with a Catastrophe- Deferred Drawdown Option is to provide Serbia with money to deal with a potential natural disaster and help strengthen the country’s institutional and legal framework to effectively manage the physical and fiscal impacts of natural disasters. The loan will also increase the technical capacity for planning and implementing disaster and climate activities.