IBRD Loan: US$150 Million
TERMS: Maturity = 24 years; Grace= 11 years
Project Description: The Disaster Risk Management Development Policy Loan with Catastrophe Deferred Draw Down Option (CAT DDO) Project for Colombia aims to strengthen the Government of Colombia’s program for reducing risks resulting from adverse natural events. The operation supports an institutional effort widely perceived as necessary and which the Government is already actively implementing, in part with support from the Bank through two previous lending operations. This CAT DDO will replace an existing contingent line of credit included as a component in the disaster vulnerability reduction adaptable program loan (APL).