Grenada is the first beneficiary of the first deferred draw down option for catastrophe risks or Cat DDO, approved for Latin America and Caribbean Region.
This project is financed by the International Development Association (IDA), the concessional financing arm of the World Bank.
The World Bank board of executive directors on Wednesday approved a US$20 million disaster risk management development policy credit for Grenada with a deferred draw down option for catastrophe risks (CAT DDO).
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