The objective of the project is to support Panama Institute with more effective financial risk management of natural disasters by making available a fast-disbursing, flexible, ex ante financial instrument to cover emergency expenditures in the event of a severe or catastrophic natural disaster.
The estimated total cost of the project is US$ 100 million.
1 November 2012
The estimated total cost of the project is now US$ 350 million. IDB is expected to finance the entire amount through an Ordinary Capital Fund.