Costa Rica: Catastrophe Deferred Drawdown Option (Cat DDO) Loan

 

WASHINGTON, September 16, 2008- The following project was approved today by the World Bank’s Board of Executive Directors:

 

IBRD Loan: US$65 million

TERMS: Maturity = 29.5 years; Grace= 5 years

Program Description:  This project aims to enhance the government of Costa Rica’s capacity to implement its Disaster Risk Management Program for natural disasters. The CAT DDO acts as a source of bridge financing that may be disbursed partially or in full if the country declares a state of emergency as a result of a natural disaster. This will allow the country to maintain its development programs while mobilizing other sources of funding to address the emergency.

 

For more information, please call Stevan Jackson  at (202) 458-5054 or e-mail here at sjackson@worldbank.org