Resources to finance preparation of risk management projects in Latin America and the Caribbean
GUATEMALA CITY - Japan, the Republic of Korea and Spain will contribute a total of approximately US$8 million to the Multidonor Disaster Prevention Trust Fund administered by the Inter-American Development Bank, the IDB announced today.
The trust fund will provide grants for detecting risks to natural hazards, preparing disaster prevention loans, designing prevention and mitigation investments, improving preparedness plans, employing environmental management and land use planning to reduce vulnerabilities and strengthening national and local institutions involved in disaster prevention and response projects in IDB borrowing member countries in Latin America and the Caribbean.
The letters of contribution were signed in separate ceremonies by Japan's Senior Vice Minister of Finance Kazunori Tanaka, Korean Vice Minister of Finance and Economy Dong Soo Chin, Spain's State Secretary of Economy, David Vergara Figueras and IDB President Luis Alberto Moreno, during the annual meeting of the IDB Board of Governors.