News

A new $500 million Disaster Risk Management Loan for Romania, featuring a Catastrophe Deferred Drawdown (CAT DDO) option supported by GFDRR, was just endorsed by the World Bank, along with a new five-year Country Partnership Framework. This is the second CAT DDO for Romania aiming to drive critical reforms for inclusive disaster preparedness and response. (LinkedIn)

The World Bank Board of Directors has approved a new project to upgrade road infrastructure in the state of Bahia, Brazil, benefitting 2.35 million people. This initial $150 million loan is part of a larger $1.662 billion program aimed at enhancing road infrastructure management nationwide to improve transportation conditions, access, and environmental sustainability. GFDRR played a key role in preparing this project, especially in including climate resilience as one of the central pillars for road maintenance. (LinkedIn)

The World Bank approved a US$70 million grant (just over CFAF 41 billion) to improve access to basic infrastructure and services and build climate resilience in cities across the Central African Republic. Under The CAR Inclusive and Resilient Cities Project (PROVIR), about 1.6 million people are expected to benefit from climate-resilient infrastructure. POVIR was supported by technical assistance and grant funding from GFDRR. (LinkedIn)

The World Bank approved a $40 million financing package for the Strengthening Moldova’s Disaster Risk Management and Resilience (SMORE) Project, which is supported through grant funds provided by GFDRR and the Technical Assistance Financing Facility (TAFF) for Disaster Prevention and Preparedness, which is financed by the European Commission’s Directorate-General for European Civil Protection and Humanitarian Aid Operations (DG ECHO) and administered by GFDRR. (LinkedIn)