Contingent Loan for Natural Disaster Emergencies

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The objective of the operation is to alleviate the impact that a severe or catastrophic natural disaster could have on the country's finances, by increasing the availability, stability, and efficiency of contingent financing to address emergencies. Additionally, the operation seeks to enhance the comprehensive disaster risk management of the country by fostering improvements in five main areas to be monitored through the Comprehensive Natural Disaster Risk Management Program (CDRMP): (i) disaster risk management governance; (ii) risk identification; (iii) risk reduction; (iv) preparation for emergency and response; and (v) financial protection and risk transfer.