Second Fiscal Reform and Resilience Development Policy Credit with a Cat DDO

closed

The development objective of Second Fiscal Reform and Resilience Development Policy Credit with a with a Catastrophe Deferred Drawdown Option is to support the Government of St. Vincent and the Grenadines (GoSVG) in: (i) responding to the Coronavirus (COVID-19) pandemic to protect the vulnerable; (ii) strengthening fiscal resilience; and (iii) enhancing climate and disaster resilience. The DPC aims to support the efforts of the government of St. Vincent and the Grenadines’ (GoSVG) to respond to the Coronavirus (COVID-19) pandemic (through a new Pillar 1), while, at the same time, creating the conditions needed for the country’s recovery by enhancing fiscal, climate, and disaster resilience and unlocking further growth from SVG’s coastal and marine assets (through Pillars 2 and 3). This second operation, which was under development prior to the pandemic, is now even more important given both immediate Coronavirus (COVID-19) response needs and reforms required for post-pandemic recovery and hurricane preparedness.