World Bank helps Albania on disaster risk mitigation

TIRANA, May 20 – The World Bank and the Government of Albania spent two days negotiating a new credit agreement for the Disaster Risk Mitigation and Adaptation Project (DRAMP), which seeks to strengthen institutional capacities for reducing Albania’s vulnerability to natural and man-made hazards and limiting human, economic, and financial losses due to these disasters.
This project will be the first of a two-phase Adaptable Program Loan (APL) for Albania. The first-phase APL is programmed for three years and will be financed by an IDA credit of US $6.2 million and by an IBRD loan of US $3.0 million.
The project will have four main components:
1. Disaster Risk Management and Preparedness will support agency building for emergency response mechanisms through provisions of equipment and strengthening disaster risk mitigation planning.
2. Strengthening Hydro-meteorological Services will support disaster risk reduction through provisions of accurate hydro-meteorological forecasts and services tailored to the needs of disaster risk managers in weather-sensitive sectors.
3. Development of Building Codes will help reduce risks from seismic activities through the development of improved building codes and mechanisms for introducing improved standards.
4. Catastrophe Insurance will provide access to private catastrophe risk insurance to households and small and medium businesses through the establishment of a new Catastrophe Risk Insurance Facility for South Eastern Europe. Albania will be the first country in South East Europe to commit to participating in this innovative program.
The project is expected to be reviewed for approval by the Board of Directors in June.
The project will be implemented by the Ministry of the Interior and other agencies including the Ministry of Finance, Ministry of Public Works, Transport and Telecommunications and the Institute of Energy, Water and Environment. The Albanian Disaster Risk Mitigation and Adaptation Project is part of a regional disaster risk mitigation and adaptation program for South East European countries.