Nicaragua: World Bank Approves Credit To Reduce
Nicaragua's Vulnerability To Natural Disasters
Contact Person:
Lee Morrison (202)-458-8741
Lmorrison1@worldbank.org
Alejandra Viveros (202)-473-4306
Aviveros@worldbank.org

For more information on this project visit http://www4.worldbank.org/sprojects/Project.asp?pid=P064916


WASHINGTON, April 3, 2001--The World Bank today approved a US$13.5 million interest-free credit to strengthen Nicaragua's capacity to
mitigate the effects of natural disasters by strengthening Nicaragua's newly created National System for Disaster Management and develop
programs to help local governments assess disaster risks and apply sustainable land use and building standards.

"The Natural Disaster Vulnerability Reduction Project aims to reduce the heavy toll of human life and property damage caused by
earthquakes, fires, hurricanes, volcanic eruptions and other natural disasters that hamper economic growth and disproportionately
affect the lives of the poor in Nicaragua," said Donna Dowsett-Coirolo, Country Director for Central America.

Nicaragua's geographic location makes the country a frequent target for Hurricanes, droughts and fires, volcanic eruptions, and severe
earthquakes. The Natural Disaster Vulnerability Reduction Project will finance policy assessments and basic studies of Nicaragua's watershed
management, building codes, and seismic risk to identify areas at risk and develop a national natural disaster mitigation strategy. The credit will also
support training and technical assistance at the municipal level to integrate hazard analysis into local land use planning and to equip and train local
committees in disaster response. In addition, the project will include a disaster awareness campaign to educate Nicaraguans on the proper
procedures in case of an emergency.

T he US$13.5 million equivalent, interest-free credit has a 40-year maturity and a 10-year grace period. The total cost of the project is US$16
million.

For more information on the World Bank's work in the Latin America and Caribbean region, please visit: http://www.worldbank.org/lac