WASHINGTON, May 19, 2014 — The World Bank’s Board of Executive Directors today approved a US$2 million additional financing to the Republic of Moldova for the Disaster and Climate Risk Management Project, which will support the State Hydrometeorological Service’s ability to forecast severe weather and improve the country’s overall capacity to prepare for and respond to natural disasters.
The new funding complements the original US$10 million project and aims to reduce Moldova’s susceptibility to natural disasters, particularly in agriculture and related sectors, and diminish the country’s economic vulnerability to droughts, floods and other natural shocks. Over the past four years the ongoing project has supported a range of activities in hydro-meteorological services, civil protection and climate smart agriculture, including the establishment of the Emergency Command Center for disaster response, creation of a mobile weather and market information alert system, and operationalization of a Doppler radar system to forecast severe weather.
“The regular recurrence of natural hazards and their impact on Moldova’s economy and people call for continued commitment to boosting the country’s capacity to respond to disasters and climate risks”, said Alex Kremer, World Bank Country Manager for Moldova. “This imperative is further reinforced by the country’s size and population density, making disaster and climate risk management an important agenda item for the country’s sustainable development.”
The objectives of the Disaster and Climate Risk Management Project and additional financing are to:
- Strengthen severe weather forecasting capacity and ensure that users of meteorological information, both public and private, are presented with more localized, specific and timely forecasts and warnings;
- Improve disaster preparedness and emergency response through strengthening the capacity of the Emergency Command Center to manage emergencies and disaster response coordination among government agencies; and
- Support adaptation to climate risks in agriculture through practical application of agro-meteorological information in the agriculture sector in order to increase its resilience towards adverse weather effects.
Since Moldova joined the World Bank in 1992, over US$1 billion has been allocated to approximately 60 projects in the country. Currently, the World Bank portfolio includes 9 active projects with a total commitment of US$246 million. Areas of support include regulatory reform and business development, education, social assistance, e-governance, healthcare, agriculture, environment, and others. The International Finance Corporation has invested US$233 million in 24 projects in various sectors, and the Multilateral Investment Guarantee Agency has provided guarantees totaling US$95 million. Both institutions are members of the World Bank Group.