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National Disaster Risk Management Fund

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Financing

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Projects in this Sector: 19

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Procurement

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Projects with this Issue Raised: 212

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Project Information

Investment ID: Loan 3473-PAK, Loan 3474-PAK, TA 9246-PAK

Bank: Asian Development Bank

Environmental Category: FI

Country: Pakistan

Region: South Asia

Approval Date: Nov. 23, 2016

Investment Types: Advisory services, Loans

Total Project Cost: USD 261.4 million

Total Complaints: 1

Description

The Project will provide financial and technical support to the National Disaster Risk Management Fund (NDRMF), which is being established as a government-owned non-bank financial intermediary with a corporate structure. The NDRMF will reduce the socio-economic and fiscal vulnerability of the country and its population to natural hazards by prioritizing and financing investments in disaster risk reduction and preparedness that have high economic benefits, taking into account climate change, as well as disaster risks and their impacts. The government will pass on ADB loan funds to the NDRMF as a grant, for on-granting by NDRMF to eligible implementing partners. The NDRMF will finance up to 70% of the cost of eligible subprojects that will enhance Pakistan's resilience to extreme weather events and other natural hazards. The NDRMF will also enter into insurance arrangements to develop markets for the transfer of residual risks that cannot be mitigated.

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