World Bank

World Bank Strengthens Ability to Respond to Crises in Poorest Countries
Press Release No:2012/196/CFP
WASHINGTON, December 8, 2011 – The World Bank’s Board of Executive Directors today approved a new mechanism that will allow the world’s poorest countries to expedite access to funding following a crisis. The Immediate Response Mechanism complements longer-term emergency response tools available to members of the International Development Association (IDA), the Bank’s fund for the poorest, offering countries financial support within weeks rather than months of an emergency. This will be achieved through the inclusion of contingent emergency response components in existing and future investment projects, at the request of the borrower. “The Bank has been strengthening its crisis response capabilities in low-income countries. Today’s approval of the Immediate Response Mechanism will allow us to shorten our response time even more, enabling us to address the immediate needs of IDA countries within two weeks of a crisis, provided the country meets the eligibility criteria,” said Axel van Trotsenburg, World Bank Vice President for Concessional Finance and Global Partnerships. Countries will be able to access a portion of undisbursed balances in their investment project portfolios, up to a total of US$2.2 billion. "In implementing this program, the Bank will work closely with interested countries to improve their emergency preparedness and arrangements for disaster response. Better planning, in advance of any crisis or emergency, speeds recovery and reduces the impact on vulnerable people," said Joachim von Amsberg, Vice President of Operations Policy and Country Services. In the case of crises, notably natural disasters and economic shocks, IDA would provide immediate financing in support of recovery efforts, such as the activation or scaling up of safety nets to mitigate the impact on vulnerable groups, repair or restoration of basic physical assets, protection of critical development spending such as on health and education, and creation of programs to jump-start economic activity.