Fourth Disaster Risk Management Development Policy Loan with a Catastrophe-Deferred Drawdown Option

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The development objective of the Fourth Disaster Risk Management Development Policy Loan in Philippines is to strengthen the Government of the Philippines' institutional and financial capacity to manage risks from climate change, natural disasters, and disease outbreaks. This is supported by reforms organized under two pillars. Pillar A, strengthening disaster response and recovery policies and planning, supports policy reforms aimed at continuously strengthening GOP capacities for faster and better response and recovery. Pillar B, strengthening the resilience of government programs, enables the implementation of policy and institutional reforms that ensure resilient investments at the local and sectoral levels and enhance the transparency of climate expenditures.