Panama Can Access up to $300 Million in Financing and Receive $500,000 Grant from IDB for Earthquake Response
Panama, Oct. 12 -- Panama will be able to access financing of up to US$300 million from the Inter-American Development Bank Group (IDB Group) in response to the October 9 earthquake. In addition, up to US$500,000 in non-reimbursable resources is available to address the most urgent needs of the affected population.The US$300 million support comes from the Contingent Credit Facility for Natural Disaster and Public Health Emergencies that Panama has with the IDB, which includes coverage for earthquakes. The non-reimbursable resources are provided through an emergency technical cooperation grant and may be used for humanitarian assistance to affected communities; damage and loss assessments; and recovery needs analyses to help guide government...
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