World Bank approves 400 million euros for disaster risk management in Romania
Publicat:The World Bank Group's Board of Executive Directors on Wednesday approved a 400m-euro loan to be extended to Romania for the development of disaster risk management policies.
The loan, which will include a Catastrophe Deferred Drawdown Option (CATDDO), will support Romania's efforts to effectively prepare and respond to natural disasters and climate change by strengthening institutions and legislation in the field.
"Cataclysmic events generate a significant financial shock for Romania, which could trigger an economic regression, disproportionately affecting the neediest. Increasing…
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