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Philippines gets $80m from World Bank CAT-DDO, with more expected

December 29, 2021

The government of the Philippines has drawn $80 million to help in the recovery from super typhoon Rai (Odette) from the World Bank supported catastrophe contingent line-of-credit it has in place through a Catastrophe-Deferred Drawdown Option arrangement, dubbed the CAT-DDO 4.

As we reported more than one week ago, the Philippines had put the World Bank on notice for its catastrophe contingent line of credit, through the CAT-DDO instrument.

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