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World Bank CAT DDO pays out $20m for La Soufrière volcanic eruption

April 13, 2021

The Governments of Saint Vincent and the Grenadines have received $20 million in disaster risk financing support from the World Bank to aid their recovery from the recent eruption of the La Soufrière volcano, after a catastrophe contingent line of credit was triggered.

The eruption of the La Soufrière volcano on Saint Vincent has triggered a Catastrophe-Deferred Drawdown Option (CAT-DDO) instrument, that is designed to open up a World Bank line of credit after a natural disaster or catastrophe event triggers an emergency declaration.

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