Horizontal Adaptable Program Lending : Assessing Suitability for Risk Management of Natural and Climate-induced Hazards in Pacific Island Countries
The Pacific Island Countries (PICs) are highly vulnerable to natural and climate-induced hazards and this vulnerability is likely to increase over the coming decades. Climate change and natural hazards will have repercussions on coastal developmen...
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| Format: | Other Financial Sector Study |
| Language: | English en_US |
| Published: |
Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2009/06/16440640/horizontal-adaptable-program-lending-apl-assessing-suitability-risk-management-natural-cimate-induced-hazards-pacific-island-countries-br http://hdl.handle.net/10986/12751 |
| Summary: | The Pacific Island Countries (PICs) are
highly vulnerable to natural and climate-induced hazards and
this vulnerability is likely to increase over the coming
decades. Climate change and natural hazards will have
repercussions on coastal development, water supply, energy,
agriculture, and health, among other sectors. Therefore,
risk management of natural and climate-induced hazards
(RMNCH), including climate adaptation, are core development
issues for the PICs and the economic, social and
environmental benefits of RMnCH investments are likely to
far outweigh their costs. The World Bank is currently
considering scaling up its engagement in RMNCH activities in
the PICs. Specifically, the intention is to develop a
business plan to address priority RMCH issues, including
both technical assistance and investment activities.
However, given the large number, diversity, specific needs,
relatively small size, and isolation of the PICs, providing
assistance using traditional lending instruments could be a
costly, administratively difficult and time-consuming
exercise. Likewise, several donors have expressed interest
in working on this challenge, which, given the generalized
weakness in the PICs' institutional capacity, can
generate an undue burden in the absence of coordinated
action. Consequently, it is of utmost importance to find
ways of reducing administrative and related overheads (even
if the World Bank were the only donor) while still
maintaining the goal of maximizing assistance, maintaining
consistency, transparency, and efficiency and harmonizing
initiatives of the PICs to address their RMNCH needs. |
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