Third Disaster Risk Management Development Policy Loan with a Cat DDO

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The development objectives of the Third Disaster Risk Management Development Policy Loan in Colombia intend to strengthen the Government of Colombia’s program to manage risk resulting from adverse natural events, including disease outbreaks. It supports additional reforms in three policy areas: (a) promoting the further development of disaster risk management (DRM) and climate change policies; (b) strengthening the country’s fiscal resilience to disaster, climate and public health risks; and (c) promoting sectoral and subnational co-responsibility in DRM and climate change adaptation. The program will deepen policy reforms by: (a) promoting co-responsibility across sectors, territories and government levels and entities; and (b) expanding disaster risk financing at the national, subnational and sectoral levels, as a key component of contingent liability management and consequently of fiscal management. The operation will also define and develop public policy actions to address climate variability; mitigate climate change by controlling deforestation and promoting the sustainable use of forestry resources; and contribute to mainstreaming disaster and climate risk in the development and operation of multimodal transport and housing infrastructure. Critically, in the context of the COVID-19 crisis and other public health threats driven by climate change, the program supports the formulation of a new Ten-Year Public Health Plan, to be incorporated into disaster planning and informed by lessons learned during the pandemic.