Cabo Verde Disaster Risk Management Development Policy Financing with Cat DDO

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The objective of the Disaster Risk Management Development Policy Financing with a Catastrophe Deferred Drawdown Option Operation is to support the Government of the Republic of Cabo Verde in: (a) strengthening the institutional and legal framework to ensure risk-informed sectoral and territorial planning; and (b) increasing the financial capacity to manage impacts associated with disaster and climate related shocks. The policy reforms included in the proposed operation are aimed at increasing long-term resilience to and ability to recover from the adverse impacts of disasters, thereby helping support the sustainability of the development program and the Government’s efforts to eliminate extreme poverty and boost shared prosperity. The supported policy areas align with the Government’s efforts to make Cabo Verde more resilient to climate change, following its Sustainable Development Strategic Plan 2017-2021. The Government is demonstrating its commitment to strengthen the Disaster Risk Management (DRM) and Climate Change Adaptation (CCA) agenda by adopting a National Disaster Risk Reduction Strategy, building its institutional capacity and improving coordination among stakeholders to respond in the aftermath of a natural catastrophe, setting up the framework to develop contingency plans, improving the management of fiscal impacts of disaster and climate-related risks, investing for the safety and resilience of existing school infrastructure and roads, and redesigning its territorial planning instruments to address the ongoing urbanization and land use challenges. The World Bank is supporting this agenda through the implementation of Technical Assistance (TA) activities with the Government.