The World Bank is extending a new lifeline to small islands and other small states struck by earthquakes and tropical storms, allowing governments to focus on disaster recovery instead of debt repayment when catastrophes occur.
These small islands and states are particularly vulnerable to natural disasters. When natural disasters hit, their leaders are concerned about their people and their communities. Theyre focused on maintaining access to clean water, food, and powerand theyre tormented by the loss of life.
By significantly broadening the scope of its Climate Resilient Debt Clauses, the World Bank is doing more to help vulnerable countries access earlyand more meaningfulsupport.
This commonsense lifeline adds new capabilities to the …
Read the full article at: https://www.worldbank.org/en/news/factsheet/2023/12/01/world-bank-extends-new-lifeline-for-countries-hit-by-natural-disasters?cid=ECR_TT_worldbank_EN_EXT?intcid=ecr_hp_sidekickB_2023-12-01-climatenews