Skip to Main Navigation

Panama - Disaster Risk Management Development Policy Loan Catastrophe Deferred Drawdown Option (CAT DDO) : Restructuring (English)

The objective of the Disaster Risk Management Development Policy Loan Catastrophe Deferred Drawdown Option (CAT DDO) for Panama is to enhance the Government of Panama (GoP's) capacity to implement its Disaster Risk Management Program for natural disasters. In the context of the outbreak of COVID-19 in Panama, the World Bank received a letter from the Ministry of Economy and Finance on March 13, 2020, requesting to amend the CAT-DDO’s loan agreement to allow the country to disburse funds to address the national emergency generated by COVID-19. Through this change, the GoP plans to disburse the available balance of the CAT-DDO to respond to the imminent or current emergency conditions created by COVID-19. The disbursement mechanism would remain the same, with the loan proceeds disbursed into an account at the National Bank of Panama and disbursed into the Ministry of Economy and Finance’s designated account to finance budgeted expenditures.

Details

  • Document Date

    2020/03/20

  • Document Type

    Project Paper

  • Report Number

    146916

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Panama,

  • Region

    Latin America & Caribbean,

  • Disclosure Date

    2020/03/20

  • Disclosure Status

    Disclosed

  • Doc Name

    Panama - Disaster Risk Management Development Policy Loan Catastrophe Deferred Drawdown Option (CAT DDO) : Restructuring

  • Keywords

    Deferred Drawdown Option; Disaster Risk Reduction; financial protection; disaster risk management; Fiscal Risk Management; public health system; financial management program; several technical assistances; water well drilling; public health response; spread of disease; public health risk; institutional framework; result indicator; emergency conditions; natural disaster; response activity; ordinary session; organizational system; timely access; dry season; Indicator Target; government system; comprehensive strategy; private company; risk analysis; risk retention; health factor; Infectious Disease; financing instrument; international traffic; national emergency; available balance; loan proceeds; legal framework; binding instrument

Downloads

COMPLETE REPORT

Official version of document (may contain signatures, etc)

Citation

Panama - Disaster Risk Management Development Policy Loan Catastrophe Deferred Drawdown Option (CAT DDO) : Restructuring (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/205481584755605518/Panama-Disaster-Risk-Management-Development-Policy-Loan-Catastrophe-Deferred-Drawdown-Option-CAT-DDO-Restructuring