Contact: In Tirana: Ana Gjokutaj (355-4) 80 655 agjokutaj@worldbank.org In Washington: Michael Jones (+1-202) 473-2588 Mjones2@worldbank.org TIRANA, June 19, 2008 – The World Bank Board of Directors today approved a credit and loan for the Disaster Risk Mitigation and Adaptation Project (DRMAP), which will strengthen institutional capacities to reduce Albania’s vulnerability to natural and man-made hazards and to limit human, economic, and financial losses due to these disasters. This project will be the first of a two-phase Adaptable Program Loan (APL) for Albania, programmed for three years, and will be financed by an IDA credit of US$6.2 million and by an IBRD loan of US$3.0 million. “This project is the first operation under the South Eastern Europe Disaster Risk Mitigation and Adaptation Program, and demonstrates Albania’s commitment to reducing vulnerability to disasters on both the national and regional levels,” said Alison Cave, Task Team Leader.
The project will have four main components:
1. Disaster Risk Management and Preparedness will support capacity building for emergency response through the provision of equipment and strengthening disaster risk mitigation planning. 2. Strengthening Hydro-meteorological Services will support disaster risk reduction through the provision of accurate weather forecasts and services tailored to the needs of disaster risk managers in weather-sensitive sectors. 3. Development of Building Codes will help reduce risks from earthquakes by improving building codes and mechanisms for introducing improved standards. 4. Catastrophe Insurance will provide access to private catastrophe risk insurance to households and small and medium enterprises, through the establishment of a new Catastrophe Risk Insurance Facility for South Eastern Europe. Albania will be the first country in South East Europe to commit to participate in this innovative facility. The project will be implemented by the Ministry of Interior and other agencies, including the Ministry of Finance, the Ministry of Public Works, Transport and Telecommunications and the Institute of Energy, Water and Environment.
The Albania Disaster Risk Mitigation and Adaptation Project is part of a regional disaster risk mitigation and adaptation program for South East European countries. Albania joined the World Bank in 1991. World Bank commitments to the country to-date total approximately US$966 million for 66 operations. - ### - For more information, visit: http://www.worldbank.org.al |
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