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Tonga gets World Bank CAT-DDO funds for volcano & tsunami recovery

The Pacific Island nation of Tonga will receive a US $8 million payout disbursement from a World Bank arranged catastrophe contingent line of credit, under a Catastrophe-Deferred Drawdown Option, or CAT-DDO. Tonga and other islands in the region were severely impacted by the eruption of the Hunga Tonga volcano on January read the full article →

Philippines gets $80m from World Bank CAT-DDO, with more expected

The government of the Philippines has drawn $80 million to help in the recovery from super typhoon Rai (Odette) from the World Bank supported catastrophe contingent line-of-credit it has in place through a Catastrophe-Deferred Drawdown Option arrangement, dubbed the CAT-DDO 4. As we reported more than one week ago, the Philippines read the full article →

World Bank on notice for Philippines CAT-DDO after typhoon, but not for cat bond yet

We understand that the World Bank has been put on notice as the Philippines government hopes to trigger the $500 million catastrophe contingent line-of-credit it can receive through its Catastrophe-Deferred Drawdown Option arrangement, dubbed the CAT-DDO 4. The Philippines government signed up to the $500 million catastrophe contingent line-of-credit back in read the full article →

Philippines gets $500m World Bank catastrophe contingent credit line

The Philippines has received more catastrophe protection with the help of the World Bank, as its government has signed up to another $500 million catastrophe contingent line-of-credit through a new Catastrophe-Deferred Drawdown Option arrangement, dubbed CAT-DDO 4. The Philippines has benefited from these novel catastrophe contingent credit arrangements before, having had read the full article →

World Bank CAT DDO pays out $20m for La Soufrière volcanic eruption

The Governments of Saint Vincent and the Grenadines have received $20 million in disaster risk financing support from the World Bank to aid their recovery from the recent eruption of the La Soufrière volcano, after a catastrophe contingent line of credit was triggered. The eruption of the La Soufrière volcano on read the full article →

World Bank CAT DDO’s triggered by coronavirus, disburse almost $900m

A number of countries have benefited from disbursements under World Bank provided catastrophe contingent lines of credit after the Covid-19 coronavirus pandemic triggered their Catastrophe-Deferred Drawdown Options (CAT-DDO's). The Catastrophe-Deferred Drawdown Option (CAT-DDO) is a financing instrument that acts a little like a parametric catastrophe bond, in that they provide a read the full article →

World Bank helps Vanuatu & Grenada to catastrophe contingent financing

The World Bank has helped two more countries join those benefiting from a source of catastrophe contingent disaster risk financing, as both Vanuatu and Grenada become the latest to receive a Catastrophe Deferred Drawdown Option (Cat DDO) arrangement. The World Bank continues to deliver these catastrophe contingent risk financing solutions to read the full article →

Madagascar & Morocco get World Bank Catastrophe Deferred Drawdown Options

The African countries of Madagascar and Morocco are the latest to benefit from a Catastrophe Deferred Drawdown Option (Cat DDO) instrument issued by the World Bank, as further steps are taken to make them more resilience to natural disasters and climate related risks. The Catastrophe Deferred Drawdown Option (Cat DDO) has read the full article →

ADB provides catastrophe triggered financing for Pacific islands

The Asian Development Bank (ADB) has approved $24 million of catastrophe triggered contingent disaster financing for Pacific islands the Federated States of Micronesia (FSM), the Marshall Islands, Solomon Islands, and Tonga. As a second phase of the Pacific Disaster Resilience Program, financing is designed to help strengthen and boost disaster resilience read the full article →

World Bank links catastrophe & pandemic risk finance for the Maldives

The World Bank has delivered the first of a new combined catastrophe and pandemic contingent risk financing solution to the Maldives, leveraging existing structures to create something responsive and that works similar to insurance for the archipelagic nation. The Maldives is highly exposed to natural hazards and climate variability, and is read the full article →