The World Bank Report No: ISR10016 Implementation Status & Results Panama Disaster Risk Management Development Policy Loan with a CAT DDO (P122738) Public Disclosure Copy Project Name: Disaster Risk Management Development Policy Loan with a Program Stage: Implementation Seq.No: 3 Status: ARCHIVED Archive Date: 24-Apr-2013 CAT DDO (P122738) Country: Panama Approval FY: 2012 Product Line: IBRD/IDA Region: LATIN AMERICA AND CARIBBEAN Lending Instrument: Development Policy Lending Implementing Agency(ies): Key Dates Board Approval Date 18-Oct-2011 Original Closing Date 30-Nov-2012 Planned Mid Term Review Date Last Archived ISR Date 03-Oct-2012 Effectiveness Date 07-Mar-2012 Revised Closing Date 30-Nov-2014 Actual Mid Term Review Date Program Development Objectives Program Development Objective (from Program Document) The overall development objective of the proposed operation is to enhance the Government of Panama's capacity to implement its disaster risk management program for natural disasters as part of its disaster risk management (DRM) national framework. The DPL with CAT DDO will provide a source of immediate liquidity in case of a natural disaster. The DPL with a CAT DDO instrument is designed to be a quick and flexible source of financing. Has the Program Development Objective been changed since Board Approval of the Program? Yes No Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Implementation Status Overview Public Disclosure Copy This project was approved on October 18, 2011, the Loan Agreement was signed on January 4, 2012, and it was declared effective on March 7, 2012. Since then, the GoP has consistently continued with the implementation of its DRM Program and has shown steady progress towards achieving the PDO. - In line with the first prior action of the policy matrix, enactment of the Comprehensive Disaster Risk Management National Policy-PNGIR, the GoP has consolidated the role and upgraded the legal status of the National Platform for DRR, enlarging its membership with new institutions from civil society, academia and the private sector (Executive Decree No. 41 of January 2013). The National Platform is now empowered to establish its own governance structure and to foster the development of local and traditional (indigenous) DRR platforms. - With regards to the second prior action, adoption of the Disaster Risk Management National Plan 2011-2015, three key DRM stakeholders, the Ministry of Finances (MEF), Ministry of Housing and Land Use Planning (MIVIOT), and the National Environmental Authority (ANAM), have continued implementing several priority actions committed in the DRM National Plan. Importantly, the Ministry of Finance just approved the creation of a new budgetary code specific for DRM, which will allow the institutions to submit and channel resources for ex-ante DRM initiatives (Resolution No. 030, of March 2013). In the case of MIVIOT, the Vice Ministry of Land Use Planning has endorsed a proposal for a National Policy on Land Page 1 of 3 The World Bank Report No: ISR10016 Use Planning which includes explicit reference to DRM criteria. Additionally, MIVIOT is engaged in the planning and coordinating with other institutions on a probabilistic seismic risk assessment for the metropolitan area of Panama, building on the successfully implemented CAPRA study in David. On another area related to the DRM National Plan, ANAM has updated the National Policy on Climate Change, through a participatory and comprehensive nationwide consultative process. This updated version, which includes an explicit component on DRM, has been submitted for approval to the Panama´s National Environmental Council. Public Disclosure Copy - Related to the third prior action, the MEF Directorate of Investment, Concessions, and Risks (DICRE) has developed a proposal for the design of a Disaster Risk Financing Strategy that is endorsed by the Ministry of Finance, and commissioned a study to assess the coverage size of a National Emergency Fund to attend frequent, small and medium level emergencies associated to the occurrence of natural hazards. In addition of the above, MEF has advanced the implementation of the Panamanian Saving Fund (FAP by its acronym in Spanish), previously envisaged to enter in vigor in 2014. The FAP provides Panama with a new disaster risk financing component, and has the mandate to purchase catastrophic risk insurance. Results Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Increased GoP capacity for disaster risk Number Value 1.00 4.00 4.00 reduction (DRR) Date 30-Jan-2012 31-Mar-2013 30-Nov-2014 Comments One province has updated its Four Provinces have updated Four provinces have updated protocols for disaster their protocols for disaster protocols for disaster preparedness and response. preparedness and response preparedness and response. including Bocas del Toro, Veraguas, Los Santos yHerrera. Key ministries carried out DRR priority actions Number Value 0.00 3.00 3.00 identified in the 2011-2015 DRMNP Date 30-Jan-2012 31-Mar-2013 30-Nov-2014 Comments Zero ministries have carried Three ministries (MEF, Three ministries have carried out DRR priority actions MIVIOT and ANAM) have out DRR priority actions identified in the 2011-2015 continue carrying out DRR identified in the 2011-2015 PNGR. priority actions identified in PNGR. the 2011-2015 PNGR. DRM financial protection policies, strategies, or Yes/No Value No No Yes Public Disclosure Copy instruments developed. Date 30-Jan-2012 31-Mar-2013 30-Nov-2014 Comments DRM financial management MEF has drafted a Disaster DRM financial management program to be developed. Risk Financial Management program developed. program. At the same time, the GoP has expanded the range of available instruments for financial protection and risk transfer by establishing a Page 2 of 3 The World Bank Report No: ISR10016 specific mechanism in the design of the FAP. Public Disclosure Copy Data on Financial Performance (as of 08-Mar-2012) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P122738 IBRD-80870 Effective 18-Oct-2011 04-Jan-2012 07-Mar-2012 30-Nov-2012 30-Nov-2014 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P122738 IBRD-80870 Effective USD 66.00 66.00 0.00 0.00 66.00 0.00 Tranches Tranche 1 Amount (USD) Expected Release Date Actual Release Date Status 0 Pending Released Key Decisions Regarding Implementation None. Restructuring History There has been no restructuring to date. Related Operations There are no related projects. 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