Philippines declares calamity after typhoon hit, World Bank funding line to open
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Philippines declares calamity after typhoon hit, World Bank funding line to open

Martha Muir
21 December 2021
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Typhoon winds palm trees phillipines.jpg

The World Bank has been "put on notice" after Typhoon Rai/Odette, as the Philippines announced its intention to draw funds from the World Bank disaster response loan, the Catastrophe-Deferred Drawdown Option (CAT-DDO 4), according to local media reports.

Finance Secretary Carlos G Dominguez III announced that funding will be requested when the country declares a state of calamity, Business World reported.

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Topics

News Claims and losses Hurricane Catastrophe bonds Property
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Martha Muir
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