A press release of Inter-American Development Bank (IDB) reads:
Panama will strengthen its risk management with the help of a U.S. $ 100 million Inter-American Development Bank (IDB) loan. The program will allow the country to develop a new framework for policy formulation, disaster risk management and climate change adaptation, especially for the benefit of those most vulnerable to natural disasters.
Panama is one of the countries most affected by extreme weather events. Because of its geography, one in eight Panamanians are exposed to multiple hazards such as storms, floods and earthquakes. Between 1986 and 2008 Panama suffered $80 million in losses caused by natural disasters. Increases in temperature and sea level, climate change-related phenomena also imply a potential threat to the Panama Canal and other major sources of revenues, such as tourism and agriculture.
The project will facilitate policy coordination among various government agencies so they can respond more quickly and efficiently to natural disasters. "The strengthening of disaster risk management is an essential component of Panama’s strategy of economic development," said Hector Malarín, chief of the Environment Division, Rural Development and Disaster Risk Management at the IDB.
More on this topic
October 2010
Loans totaling $10 million will reduce vulnerability of rural communities and facilitate the adaptation of agricultural producers to climate change
The Inter-American Development Bank (IDB) approved two loans totaling $10 million to reduce the vulnerability of rural communities in Nicaragua affected by climate change through a program to manage and conserve natural resources and protect watersheds.
February 2011
World Bank approved a $ 50 million credit for a Natural Disasters Risk Management Program.
According to a news release from the Bank, the funds will be used to finance the government budget to enable the implementation of policies and institutional reforms. The ultimate goal is to create a framework for managing natural disasters, leading to concrete actions to reduce risks and the country's vulnerability to these events.
October 2011
The World Bank has approved a loan for development policies to strengthen the country's ability to implement its Risk Management Program for Natural Disasters.
A press release from World Bank (WB) reads:
This operation provides immediate funds to Panama after a major natural disaster, allowing the Government to supplement their own resources and respond quickly to emergencies and other requirements for risk reduction.
March 2012
An IDB loan will help the Salvadoran government to strengthen key institutions and tax management.
A press release from the Inter-American Development Bank (IDB) reads:
A $200 million loan will help the Salvadoran government to strengthen key institutions and tax management.
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