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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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