News

A new $500 million Disaster Risk Management Loan for Romania, featuring a Catastrophe Deferred Drawdown (CAT DDO) option supported by the Global Facility for Disaster Reduction and Recovery, 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. 

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.

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.

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.  

Gaetano Vivo, Deputy Head of Unit for Prevention and Preparedness Capacity Building, DG ECHO, European Commission, shares his highlights and takeaways from the UR24 Global Forum held in June 2024 in Himeji, Japan.

GFDRR contributed technical assistance funding and knowledge enabling the Republic of the Marshall Islands to strengthen its fiscal management and enhance its disaster and climate resilience. 

According to the World Bank's rapid Post Disaster Needs Assessment (PDNA) report, which benefited from GFDRR's financial and technical support, $230 million is needed to address the recovery efforts following the devastating 2023 Deyr floods in Somalia.

Through GFDRR's Disaster and Climate Risk Data Fellowship, young climate researchers and data scientists contributed significantly to improving disaster and climate risk knowledge for their communities.

A study titled Ukraine: Impact of the War on Agriculture Profitability was recently conducted by the Ministry of Agrarian Policy and Food of Ukraine, in cooperation with the Ukrainian Agribusiness Club (UCAB) and with the support of GFDRR. The Ministry highlighted the study in a news release. A key finding of the study is overall, profitability levels for grains and oilseeds in Ukraine improved in 2023 compared to 2022, but low global prices prevented the industry from achieving tangible profitability.