Component 03

Contingent Emergency Response - US $0.0Mn

This contingent emergency response component will allow for rapid reallocation of project proceeds in the event of a natural or man-made disaster or crisis that has caused or is likely to imminently cause a major adverse economic and/or social impact. 

To trigger this component, the GoSL would need to declare an emergency or a state of a disaster or provide a statement of fact justifying the request for the activation of the use of emergency funding. Examples of such crises might include drought, floods, earthquakes/ Tsunami. Funds can be reallocated to this subcomponent following a joint decision by the GoSL and the World Bank.

This subcomponent will finance expenses on a positive list of goods, works, services, and emergency operation costs required for emergency recovery.