World Bank approves a loan for Fiona

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Banco Mundial aprueba un préstamo por Fiona

The World Bank approved yesterday a US$200 million loan for the Government to continue supporting the emergency response and recovery needs of the Dominican Republic after the effects of Hurricane Fiona.

This funding will further support communities that were affected and strengthen the country’s institutional capacity to manage climate risk and chart a more resilient and inclusive recovery path.

“The World Bank responded promptly to the request of the Government of the Dominican Republic to continue supporting the rehabilitation and reconstruction necessary as a result of Hurricane Fiona. This support will be key to further assist the affected areas, reduce the fiscal and economic impact of disasters, and improve the country’s response capacity to future adverse natural events,” said José Manuel (Jochi) Vicente, Minister of Finance. .

In September 2022, Hurricane Fiona hit the country with strong winds of up to 150 kilometers per hour causing heavy rains, severe flooding and massive damage to livelihoods and services, which affected more than 1.4 million people and had a greater impact on public infrastructure, agriculture, water , and homes. The DR Hurricane Fiona Emergency Response Project will focus primarily on continue serving the population of the 8 most affected municipalities (Hato Mayor, La Altagracia, La Romana, El Seibo, Monte Plata, Samaná, María Trinidad Sánchez and Duarte), the restoration of their livelihoods, improvements in critical public and community infrastructure and the reduction of the vulnerability of the communities to natural hazards and adverse effects of climate change.

“The impacts of disasters are greater for the poorest households and pose significant risks to the economic stability, security and well-being of the population,” said Alexandria Valerio, World Bank representative for the country.

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