CATASTROPHE DEFERRED DRAWDOWN OPTION (DPL with DDO)

Abstract*

This program document proposes a US$102 million Disaster Risk Management, or DRM Development Policy Loan with a Catastrophe Deferred Drawdown Option (CAT-DDO) as budget financing for the Government of Sri Lanka, or GoSL for an initial period of three years. In parallel, a fiscal disaster risk assessment is ongoing5, which will provide a clearer indication of the annual expected loss and probable maximum loss faced by the Government. The development... Show More

Development Objective

The PDO is to enhance the capacity of the Government of Sri Lanka (GoSL) to be more resilient to the impacts of natural disasters.

Key Details

Project Details

Project ID
P147454
Status
Closed
Team Leader
Suranga Kahandawa , Marc Forni
Borrower 2
Department of National Planning, Ministry of Policy Planning and Economic Affair,Ministry of Finance

Country
Sri Lanka
Disclosure Date
April 22, 2014
Approval Date
(as of board presentation)
April 22, 2014
Effective Date
July 11, 2014

Total Project Cost 1
US$ 102.00 million
Implementing Agency
Ministry of Disaster Management
Region
South Asia
Fiscal Year 3
2014

Commitment Amount
US$ 102.00 million
Environmental Category
N/A
Last Update Date
December 11, 2020
Closing Date
May 31, 2017

Last Stage Reached
BANK APPROVED

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 change100%
- FY17 - Adaptation100%

FY17 - Finance

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

FY17 - Urban and Rural Development

FY17 - Disaster Risk Management75%
- FY17 - Disaster Preparedness25%
- FY17 - Disaster Response and Recovery25%
- FY17 - Disaster Risk Reduction25%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	102.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	102.00
IDA Commitment	N/A
IBRD + IDA Commitment	102.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	102.00

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

No data available.

Detailed Financial Activity as of March 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Aug 30, 2016	IBRD-83570	Loan Disb	-101,490,000.00
Aug 30, 2016	IBRD-83570	Loan Disb	101,490,000.00
May 15, 2016	IBRD-83570	Int Charges	2,965.08
Aug 22, 2014	IBRD-83570	Loan Disb	-510,000.00
Aug 22, 2014	IBRD-83570	Loan Disb	510,000.00
Aug 22, 2014	IBRD-83570	Loan Disb	510,000.00
Aug 22, 2014	IBRD-83570	Fee Charges	510,000.00
May 15, 2015	IBRD-83570	Int Charges	900.30
May 15, 2015	IBRD-83570	Int Charges	2,128.26
Nov 15, 2015	IBRD-83570	Int Charges	2,450.27
Apr 22, 2014	IBRD-83570	Loan Commitment	102,000,000.00
Nov 15, 2023	IBRD-83570	Loan Repay	2,983,806.00
Nov 15, 2023	IBRD-83570	Int Charges	6,232.25
Nov 15, 2023	IBRD-83570	Int Charges	1,240,216.40
Nov 15, 2023	IBRD-83570	Loan Repay	14,994.00
May 15, 2024	IBRD-83570	Loan Repay	14,994.00
May 15, 2024	IBRD-83570	Int Charges	1,258,927.90
May 15, 2024	IBRD-83570	Loan Repay	2,983,806.00
May 15, 2018	IBRD-83570	Loan Repay	14,994.00
May 15, 2018	IBRD-83570	Loan Repay	2,983,806.00
Nov 15, 2018	IBRD-83570	Loan Repay	2,983,806.00
Nov 15, 2018	IBRD-83570	Loan Repay	14,994.00
Nov 15, 2018	IBRD-83570	Int Charges	7,581.86
Nov 15, 2018	IBRD-83570	Int Charges	1,508,790.10
Nov 15, 2017	IBRD-83570	Int Charges	5,287.76
Nov 15, 2017	IBRD-83570	Int Charges	1,052,265.10
Nov 15, 2017	IBRD-83570	Loan Repay	14,994.00
Nov 15, 2017	IBRD-83570	Loan Repay	2,983,806.00
May 15, 2017	IBRD-83570	Int Charges	954,203.30
May 15, 2017	IBRD-83570	Loan Repay	14,994.00
May 15, 2017	IBRD-83570	Loan Repay	2,983,806.00
May 15, 2017	IBRD-83570	Int Charges	4,794.99
Nov 15, 2016	IBRD-83570	Int Charges	3,857.87
Nov 15, 2016	IBRD-83570	Int Charges	329,391.44
Aug 30, 2016	IBRD-83570	Loan Disb	101,490,000.00
May 15, 2024	IBRD-83570	Int Charges	6,326.28
Nov 15, 2022	IBRD-83570	Int Charges	1,329,580.90
Nov 15, 2022	IBRD-83570	Loan Repay	14,994.00
Nov 15, 2022	IBRD-83570	Loan Repay	2,983,806.00
Nov 15, 2022	IBRD-83570	Int Charges	6,681.31
May 15, 2023	IBRD-83570	Int Charges	6,289.63
May 15, 2023	IBRD-83570	Int Charges	1,251,633.10
May 15, 2023	IBRD-83570	Loan Repay	14,994.00
May 15, 2023	IBRD-83570	Loan Repay	2,983,806.00
May 15, 2021	IBRD-83570	Int Charges	1,863.02
May 15, 2021	IBRD-83570	Int Charges	370,741.16
May 15, 2021	IBRD-83570	Loan Repay	14,994.00
Nov 15, 2021	IBRD-83570	Int Charges	1,763.61
Nov 15, 2021	IBRD-83570	Int Charges	350,953.88
Nov 15, 2021	IBRD-83570	Loan Repay	14,994.00
Nov 15, 2021	IBRD-83570	Loan Repay	2,983,806.00
May 15, 2022	IBRD-83570	Int Charges	1,737.89
May 15, 2022	IBRD-83570	Int Charges	345,840.03
May 15, 2022	IBRD-83570	Loan Repay	14,994.00
May 15, 2022	IBRD-83570	Loan Repay	2,983,806.00
Nov 15, 2020	IBRD-83570	Loan Repay	14,994.00
Nov 15, 2020	IBRD-83570	Loan Repay	2,983,806.00
Nov 15, 2020	IBRD-83570	Int Charges	2,836.21
Nov 15, 2020	IBRD-83570	Int Charges	564,402.60
May 15, 2021	IBRD-83570	Loan Repay	2,983,806.00
May 15, 2020	IBRD-83570	Int Charges	5,542.38
May 15, 2020	IBRD-83570	Int Charges	1,102,932.60
May 15, 2020	IBRD-83570	Loan Repay	14,994.00
May 15, 2020	IBRD-83570	Loan Repay	2,983,806.00
Nov 15, 2019	IBRD-83570	Int Charges	7,315.27
Nov 15, 2019	IBRD-83570	Int Charges	1,455,739.00
Nov 15, 2019	IBRD-83570	Loan Repay	14,994.00
Nov 15, 2019	IBRD-83570	Loan Repay	2,983,806.00
May 15, 2019	IBRD-83570	Loan Repay	14,994.00
May 15, 2019	IBRD-83570	Loan Repay	2,983,806.00
May 15, 2019	IBRD-83570	Int Charges	8,032.31
May 15, 2019	IBRD-83570	Int Charges	1,598,428.40
May 15, 2018	IBRD-83570	Int Charges	5,502.52
May 15, 2018	IBRD-83570	Int Charges	1,095,005.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Program Management	Satisfactory	2016-12-19
Progress towards achievement of PDO	Satisfactory	2016-12-19
Monitoring and Evaluation	Satisfactory	2016-12-19
Overall Implementation Progress (IP)	Satisfactory	2016-12-19

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 05-25-2018
Outcomes	Moderately Satisfactory
Risk to Development Outcome	Modest
Bank Performance	Moderately Satisfactory
Borrower Performance	Moderately Satisfactory
Government Performance	Moderately Satisfactory
Implementing Agency	Moderately Satisfactory

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 09-24-2018	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome	Modest	N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance	Moderately Satisfactory	N/a
Government Performance	Moderately Satisfactory	N/a
Implementing Agency	Moderately Satisfactory	N/a
Icr Quality	Substantial	N/a
M&e Quality	Modest	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

National Disaster Risk Financing and Insurance strategy Value 0.00 40.00 100.00
Date September 1, 2014 March 27, 2016 July 10, 2017
Comment
9 basin-wide risk mitigation investment plans developed Value 0.00 0.00 9.00
Date September 1, 2014 November 7, 2016 July 10, 2017
Comment
Fiscal disaster risk assessment completed Value No Yes Yes
Date September 1, 2014 March 27, 2016 December 31, 2014
Comment
Approval of a national monitoring framework to measure implementation of the Comprehensive Disaster Management Plan Value No Yes Yes
Date September 1, 2014 March 27, 2016 December 31, 2014
Comment
Geospatial data sharing platform established to share disaster risk information amongst relevant stakeholders Value No Yes Yes
Date September 1, 2014 September 30, 2016 December 30, 2016
Comment

National Disaster Risk Financing and Insurance strategy	Value	0.00	40.00	100.00
	Date	September 1, 2014	March 27, 2016	July 10, 2017
	Comment