Public Disclosure Copy The World Bank Implementation Status & Results Report Disaster Risk Management Development Policy Loan with a CAT DDO (P122738) Disaster Risk Management Development Policy Loan with a CAT DDO (P122738) LATIN AMERICA AND CARIBBEAN | Panama | Social, Urban, Rural and Resilience Global Practice Global Practice | IBRD/IDA | Development Policy Lending | FY 2012 | Seq No: 9 | ARCHIVED on 29-Jun-2016 | ISR24019 | Implementing Agencies: Key Dates Key Project Dates Bank Approval Date:18-Oct-2011 Effectiveness Date:07-Mar-2012 Planned Mid Term Review Date:-- Actual Mid-Term Review Date:-- Original Closing Date:30-Nov-2012 Revised Closing Date:30-Nov-2017 Program Development Objectives Program Development Objective (from Program Document) The overall development objective of the proposed operation is to enhance the Government of Panama's capacity to implement its disaster risk management program for natural disasters as part of its disaster risk management (DRM) national framework. The DPL with CAT DDO will provide a source of immediate liquidity in case of a natural disaster. The DPL with a CAT DDO instrument is designed to be a quick and flexible source of financing. PHRPDODEL Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Satisfactory  Satisfactory Overall Implementation Progress (IP)  Satisfactory  Satisfactory Overall Risk Rating  Low  Low Implementation Status and Key Decisions The GoP disbursed US$25 million from this DPL with CAT DDO to address the State of Emergency, which was issued in response to the potential losses in productive activities and human lives. This emergency resulted from the drought conditions triggered by the impact of El Niño phenomena in the country in the last several months. Since the last ISR (December 2015), the GoP Disaster Risk Management program has been successfully supported by: (i) mainstreaming Disaster Risk Reduction criteria in the formulation of public investment projects, (ii) strengthening the emergency preparedness and response capacity at the subnational level, (iii) ensuring that sectors are effectively implementing the National DRM Plan, and (iv) developing a comprehensive Disaster Risk Financing (DRFI) Strategy. It is worth mentioning that for this reporting period, MEF with support from the Bank DRM and GFMDR-Finance & Markets teams, has adopted a five- year Operational Plan to implement their new “Strategic Framework for the Financial Management of Disaster Risk”, developed with Bank-GFDRR TA support, and has requested additional Bank support for the implementation of key activities under this Operational Plan. 6/29/2016 Page 1 of 4 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Disaster Risk Management Development Policy Loan with a CAT DDO (P122738) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  Low  Low Macroeconomic  --  Low  Low Sector Strategies and Policies  --  Low  Low Technical Design of Project or Program  --  Low  Low Institutional Capacity for Implementation and Sustainability  --  Low  Low Fiduciary  --  Low  Low Environment and Social  --  Low  Low Stakeholders  --  Low  Low Other  --  Low  Low Overall  --  Low  Low Results Results Indicators 6/29/2016 Page 2 of 4 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Disaster Risk Management Development Policy Loan with a CAT DDO (P122738) PHINDIRITBL  Increased GoP capacity for disaster risk reduction (DRR) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1.00 5.00 5.00 6.00 Date 30-Jan-2012 22-Dec-2015 22-Jun-2016 30-Nov-2017 PHINDIRITBL  Key ministries carried out DRR priority actions identified in the 2011-2015 DRMNP (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 6.00 6.00 6.00 Date 30-Jan-2012 22-Dec-2015 22-Jun-2016 30-Nov-2017 PHINDIRITBL  DRM financial protection policies, strategies, or instruments developed. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N Y Y Y Date 30-Jan-2012 22-Dec-2015 22-Jun-2016 30-Nov-2017 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P122738 IBRD-80870 Effective USD 66.00 66.00 0.00 25.00 41.00 38% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P122738 IBRD-80870 Effective 18-Oct-2011 04-Jan-2012 07-Mar-2012 30-Nov-2012 30-Nov-2017 6/29/2016 Page 3 of 4 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Disaster Risk Management Development Policy Loan with a CAT DDO (P122738) Tranches Restructuring History There has been no restructuring to date. Related Operations There are no related projects. 6/29/2016 Page 4 of 4 Public Disclosure Copy