Colombia - Fourth Disaster Risk Management Development Policy Loan with a Catastrophe Deferred Drawdown Option

The project will strengthen Colombia’s program to manage risks from climate, disaster, and public health shocks by improving access to financial instruments (e.g., contingent credit, parametric insurance) and advancing resilience and climate adaptation policies across sectors and at subnational levels. It supports updated national DRM planning, fiscal risk quantification of disaster contingent liabilities, climate information integration, resilience standards in transport (e.g., geotechnical corridor concept), and measures to mainstream risk reduction and smart nature-based solutions in tourism and health emergency management, with a Cat DDO providing rapid-access contingent financing upon an eligible disaster declaration