WASHINGTON, May 25, 2010 - The World Bank’s Board of Executive Directors today approved the following project:
IBRD Loan: US$200 million
Terms: Maturity = 24.5 years; Grace = 9 years
Project ID: P120313
Project Description: The project will support the Government's policy agenda on climate change, an issue of growing global concern. Indonesia is highly vulnerable to climate change impacts - sea level rise, changing weather patterns, and increased uncertainty. Potential impacts include: increased threats to food security and agricultural productivity; impacts on productive coastal zones and community livelihoods; consequences for water storage; intensification of water- and vector-borne diseases; and deterioration of coral ecosystems. These changes will put past development gains and poverty alleviation efforts at risk. An approach that increases adaptive ability, builds community resilience and increases preparedness for managing disasters makes economic sense for Indonesia, a kind of insurance.
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