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

Abstract*

The Program Development Objective (PDO) of the Building Disaster and Climate Resilience Program Project for Romania is to strengthen Romania’s institutional and legal framework to effectively manage the physical, social and fiscal impacts of natural disasters and climate change.This objective will be achieved through reforms under two pillars: i) Strengthen the Borrower’s national framework for disaster risk management and (ii) Strengthen the Borrower’s... Show More

Development Objective

The Program Development Objective (PDO) is to strengthen Romania’s institutional and legal framework to effectively manage the physical, social and fiscal impacts of natural disasters and climate change

Key Details

Project Details

Project ID
P166303
Status
Closed
Team Leader
Alanna Simpson , Tafadzwa Dube
Borrower 2
Ministry of Finance

Country
Romania
Disclosure Date
December 29, 2017
Approval Date
(as of board presentation)
June 26, 2018
Effective Date
December 20, 2018

Total Project Cost 1
US$ 493.00 million
Implementing Agency
Ministry of Development, Public Works and Administration,Ministry of Internal Affairs - Department of Emergency Situations,Ministry of Finance,Ministry of Internal Affairs - General Inspectorate of Emergency Situations
Region
Europe and Central Asia
Fiscal Year 3
2018

Commitment Amount
US$ 493.06 million
Environmental Category
N/A
Environmental and Social Risk
Not Applicable
Closing Date
December 31, 2021

Last Stage Reached
BANK APPROVED
Last Update Date
October 12, 2023

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Environment and Natural Resource Management

FY17 - Climate change75%
- FY17 - Adaptation75%

FY17 - Finance

FY17 - Finance for Development25%
- FY17 - Disaster Risk Finance25%

FY17 - Human Development and Gender

FY17 - Disease ControlNo value for percent
- FY17 - Pandemic Response1%

FY17 - Urban and Rural Development

FY17 - Disaster Risk Management100%
- FY17 - Disaster Preparedness50%
- FY17 - Disaster Response and Recovery50%
- FY17 - Disaster Risk Reduction50%
- FY17 - Flood and Drought Risk Management25%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	493.06

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	493.06
IDA Commitment	N/A
IBRD + IDA Commitment	493.06

Lending Instrument
Grant Amount	N/A
Total Project Cost**	493.00

Summary Status of World Bank Financing (US$ Millions) as of July 31, 2025

No data available.

Detailed Financial Activity as of July 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Jun 26, 2018	IBRD-88790	Loan Commitment	493,060,000.00
Nov 1, 2023	IBRD-88790	Int Charges	5,682,325.00
Nov 1, 2023	IBRD-88790	Int Charges	5,682,325.00
May 1, 2024	IBRD-88790	Int Charges	6,213,625.50
May 1, 2024	IBRD-88790	Int Charges	6,213,625.50
Nov 1, 2022	IBRD-88790	Int Charges	1,432,252.90
Nov 1, 2022	IBRD-88790	Int Charges	1,432,252.90
May 1, 2023	IBRD-88790	Int Charges	4,074,004.20
May 1, 2023	IBRD-88790	Int Charges	4,074,004.20
May 1, 2022	IBRD-88790	Int Charges	1,189,853.80
May 1, 2022	IBRD-88790	Int Charges	1,189,853.80
May 1, 2021	IBRD-88790	Int Charges	1,372,623.50
May 1, 2021	IBRD-88790	Int Charges	1,372,623.50
Nov 1, 2021	IBRD-88790	Int Charges	1,336,636.80
Nov 1, 2021	IBRD-88790	Int Charges	1,336,636.80
Nov 1, 2020	IBRD-88790	Int Charges	297,337.25
Nov 1, 2020	IBRD-88790	Int Charges	1,765,995.20
Nov 1, 2020	IBRD-88790	Int Charges	1,765,995.20
Feb 14, 2019	IBRD-88790	Fee Charges	2,253,700.00
Mar 27, 2020	IBRD-88790	Loan Disb	220,300,000.00
Mar 27, 2020	IBRD-88790	Loan Disb	-220,300,000.00
Mar 27, 2020	IBRD-88790	Loan Disb	220,300,000.00
Feb 14, 2020	IBRD-88790	Loan Disb	-216,750,000.00
Feb 14, 2020	IBRD-88790	Loan Disb	216,750,000.00
Feb 14, 2020	IBRD-88790	Loan Disb	216,750,000.00
May 1, 2020	IBRD-88790	Int Charges	615,419.06

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Overall Implementation Progress (IP)	Satisfactory	2021-08-09
Program Management	Satisfactory	2021-08-09
Progress towards achievement of PDO	Satisfactory	2021-08-09
Monitoring and Evaluation	Satisfactory	2021-08-09

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 12-07-2022
Outcomes	Substantial
Risk to Development Outcome
Bank Performance	Substantial
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 05-26-2023	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Satisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Satisfactory	N/a
Borrower Performance		N/a
Government Performance		N/a
Implementing Agency		N/a
Icr Quality	Substantial	N/a
M&e Quality		N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

B1. The national building code for seismic risk in existing buildings is strengthened. Value No Yes Yes
Date May 25, 2018 November 30, 2022 December 31, 2021
Comment

A.1. The Government of Romania has reported on progress achieved under the international Sendai Framework for Disaster Risk Reduction.	Value	0.00	4.00	1.00
	Date	May 25, 2018	November 30, 2022	December 31, 2021
	Comment

B2. Disaster risk reduction action plans are prepared and approved by the relevant responsible authorities. Value 0.00 7.00 3.00
Date May 25, 2018 November 30, 2022 December 31, 2021
Comment

A.2. Romanian citizens have enhanced understanding of the potential impacts of disasters and how they can prevent, prepare and respond to disasters through public awareness campaigns, drills and digit	Value	0.00	6.00	6.00
	Date	May 25, 2018	November 30, 2022	December 31, 2021
	Comment

B3. The fiscal and budgetary strategy is informed by main disaster risks and their potential fiscal impact, taking into consideration publicly available Ro-Risk data.	Value	No	Yes	Yes
	Date	May 25, 2018	November 30, 2022	December 31, 2021
	Comment

A.3. Reports are available annually on the impact of disasters in Romania. Value 0.00 4.00 3.00
Date May 25, 2018 November 30, 2022 December 31, 2021
Comment