Inter-American Development Bank Launches Disaster Resilience Program

Disaster Management Disaster Management

Posted by NewAdmin on 2025-04-01 08:54:32 |

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The Inter-American Development Bank (IDB) today launched "Ready and Resilient Americas," a regional program to make Latin America and the Caribbean more resilient to the disasters that harm its economies and quality of life. The program will expand and enhance the Bank’s work in this increasingly critical area.

Ready and Resilient Americas aims to build stronger regional collaboration to boost resilience, improve readiness, ensure swift and effective responses, and bolster financial protection against disasters. Building on this proactive approach, the IDB will also allocate $10 million in non-reimbursable financing to the program between 2025 and 2030.

“Building resilience against natural disasters is no longer optional; it’s a necessity. The Ready and Resilient Americas initiative aims to strengthen disaster preparedness in our region by equipping countries with better data and tools, building a regional coordinated response and closing the financing gap by supporting resilience bonds and other risk-transfer tools,” said President Goldfajn.

The program has three pillars. The first is to equip countries with advanced tools to better assess risks and their associated costs. The second pillar is to form a collaborative network among countries, subregional networks, international organizations, and the private sector to coordinate necessary services and goods and ensure they are deployed rapidly and effectively during a disaster. The third pillar promotes innovative financial instruments to strengthen countries’ resilience and economic capacity to cope with disasters. This includes support for issuing resilience bonds, catastrophe bonds, and swaps, and for regional mechanisms to lower insurance costs and increase coverage for agriculture and infrastructure.

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