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IDB Expands Disaster Risk Coverage by $2bn, Introduces New Instruments
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SEVILLA.- The Inter-American Development Bank (IDB) and IDB Invest are expanding financial solutions to help countries and companies manage disaster-related risks and strengthen long-term resilience. This expansion includes an increase in disaster risk coverage and new instruments for sovereign and private customers: ...
IDB expands disaster risk coverage by $2bn, introduces new instruments
The Inter-American Development Bank (IDB) has expanded disaster risk coverage by an additional $2 billion and introduced new instruments for both sovereign and private clients. The $2 billion expansion includes $1 billion for its Contingent Credit Facility for Natural Disasters and another $1 billion through Climate Resilience Debt Clauses. Under the Contingent Credit Facility, the IDB is increasing the number of eligible countries and raising t…
Irene Escudero Sevilla (Spain), 2 Jul (EFE).- Natural disasters in Latin America are "a systemic problem" and the response of countries to them, the mobilization of funds and resources, must be regional, he says, in an interview given to EFE, the president of the Inter-American Development Bank (IDB), Ilan Goldfajn. "We have to have a new vision of how to react to natural disasters; we have a systemic problem and we have to deal with it in a reg…
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