RMI Enhancing Fiscal Management and Building Disaster and Climate Resilience DPO with a Cat DDO

This Development Policy Operation with a Catastrophe Deferred Drawdown Option (Cat DDO) supports the Republic of the Marshall Islands to (i) enhance fiscal management and (ii) build disaster and climate resilience. Policy actions include establishing core public financial management and procurement processes, and strengthening the disaster and climate policy framework via the Disaster Risk Management Act (2023), a Sea Level Rise Adaptation Policy, and a forthcoming National Building Act/Code. The Cat DDO provides contingent financing for rapid liquidity following eligible disaster events, while results indicators track nationwide disaster planning with climate adaptation measures, women’s participation in local disaster committees, and safer, permitted public buildings aligned with the building code