IDB - Nicaragua improves respond to natural disasters - 0 views
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Inter-American Development Bank (IDB) has approved a $186 million contingent loan to help Nicaragua mitigate the impact that severe or catastrophic natural disasters could have on its public finances.
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country is highly exposed to meteorological and geophysical threats such as earthquakes, floods, tropical storms, and volcanic eruptions. In fact, Nicaragua is the second most vulnerable country in the world to hurricanes and tropical storms, and ranks thirtieth in the world in its vulnerability to earthquakes.
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This operation will help Nicaragua not only improve its financial planning but also promote the development of effective mechanisms for the comprehensive management of natural disaster risks through the Comprehensive Natural Disaster Risk Management Program (CNDRMP) required to access the proceeds of this loan. The CNDRMP promotes improvements in the identification, reduction, and financial management of risks, as well as in disaster management.