Managing Vulnerability to Natural Disasters and Financing in Costa Rica

1) Managing Vulnerability to Natural Disasters in Costa Rica How Costa Rica has used the CAT-DDO? In January 2009, just months after securing the Cat-DDO, a 6.2 magnitude earthquake struck, affecting more than 120,000 people. ➤ To date, Cost Rica has used US$24 million of the Cat-DDO to rebuild damaged infrastructure and mitigate other damages (we didn't need the funds for the immediate response to the emergency). ➤In September 2010 another state of emergency was declared because of floods, so probably we are going to use US$15 million more in a few months. The undisbursed balance remains available until the project's closing date (October 2011). Government has the option to extend closing date. 9

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