WB readying $1-B disaster readiness loan for PHL

WIRE — THE World Bank (WB) is preparing a $1-billion contingent financing facility for the Philippines to strengthen disaster preparedness, protect critical infrastructure and accelerate the release of public funds following major disasters. The proposed Philippines Sixth Disaster Risk Management Development Policy Loan with a Catastrophe Deferred Drawdown Option (Cat DDO) is provisionally scheduled for World Bank

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