Saint Lucia Disaster Risk Management Cat DDO

active

Prospective

The Disaster Risk Management (DRM) Catastrophe Deferred Draw Down Option (Cat DDO) for SLU is a stand-alone Development Policy Credit (DPC) operation for US20 million dollars to strengthen SLU’s disaster and climate resilience. The Development Objective of the DRM Cat DDO is to support the Government of Saint Lucia's management of risks resulting from hydrometeorological and public health adverse events by strengthening (i) resiliency in physical and data infrastructure and (ii) financial resilience. The operation consists of two complementary pillars: pillar 1 enhances SLU’s policy and institutional framework for DRM and climate resilience by making physical developments more disaster and climate-resilient. This will be achieved through improved regulations and establishing a National Spatial Data Infrastructure (NSDI) Policy to support the availability, quality, and use of disaster and climate-related geospatial data. Pillar 2 supports financial resilience against natural hazards and climate change by strengthening the institutional framework for disaster risk finance (DRF) and better managing public assets and post-disaster expenditures. The operation is expected to deliver transformative developmental benefits through robust citizen and stakeholder engagement, underpinned by World Bank technical assistance and strategic partnerships. The operation also aligns fully with SLU’s Medium-Term Development Strategy 2023-26. Led by the Ministry of Finance, Economic Development, and the Youth Economy, the government has initiated consultations on the reforms supported by this operation with a broad base of public and private sector stakeholders. The government has also created websites, newsletters, press interviews, and exhibitions. Legislation supported under this operation, including Physical Planning Regulations, Environmental Impact Assessment (EIA) Regulations, National Spatial Data Infrastructure Policy, Public Asset Management Regulations, Contingencies Fund Guidelines, Disaster Risk Financing Framework, and Implementation Plan, are all supported by the World Bank Technical Assistance (TA).

World Bank Group

Project

Government