World Bank to grant Romania EUR 50m loan to improve disaster risk management

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The World Bank has approved a EUR 50 million funding for the Disaster Risk Management Consolidation Project, which will improve the resilience of emergency and disaster response infrastructure of fire and emergency buildings, a statement released by the institution has announced.

The funds will contribute to supporting Romania’s efforts to respond effectively to natural disasters and climate change through a programmatic approach, which includes on the one hand the development of specific policies and, on the other hand, the provision of financial resources in case of natural disasters such as severe floods.

The loan is granted for a period of up to 20 years, with a 19.5 year grace period.

Many buildings belonging to the emergency and response to disasters services in Romania have structural vulnerabilities and can collapse in the event of an earthquake, said Tatiana Proskuryakova, World Bank Country Director for Romania and Hungary.

 

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