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IDB and World Bank support new Central American Initiative on Disaster Risk Assessment

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Agreement will expand scope of risk assessment project in the region.

The Inter-American Development Bank and the World Bank signed a memorandum of understanding on March 6th formalizing a joint effort to develop the Central American Probabilistic Risk Assessment (CAPRA) initiative.

The CAPRA initiative seeks to enhance the understanding disaster risk throughout the region by establishing a common methodology and tools to assess disaster risk. These tools integrate the IDB's Indicators of Disaster Risk and Disaster Risk Management, a holistic approach to understand and evaluate disaster risk. The new MoU establishes a framework for the joint financing of the CAPRA Initiative and development of an information platform, and it ensures that the two development banks will use common standards for natural hazard risk evaluation in the region.

The CAPRA study was initiated in February 2008 with Costa Rica and Nicaragua serving as pilot countries and with funding provided by the World Bank's Global Facility for Disaster Reduction and Recovery. With the MoU, the initiative will now be expanded to Belize, El Salvador, Guatemala and Honduras with funds from the IDB's Multidonor Disaster Prevention Trust Fund.