Contingent Loan for Natural Disaster Emergencies (IADB-DR-L1125)

Countries
  • Dominican Republic
Where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 13, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Dominican Republic
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Humanitarian Response
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 16.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 16.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Dec 15, 2017


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Project Description
From the IADB: "The objective of the operation is to help cushion the impact of Hurricane Maria on the country's public finances by disbursing immediate financial resources to cope with the emergency response caused by this event. These resources come from contingent credit DR-X1003. Hurricane Maria brought heavy rains and winds to the areas of the country closest to its trajectory. The cyclone caused floods and landslides that affected bridges, roads, electricity and the provision of drinking water in some areas. Additionally, the event affected housing infrastructure, generating the displacement of population to shelters."
Investment Description
  • Inter-American Development Bank (IADB)
Financed through CCF
Contact Information
ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).