Between 1999-2003, natural disaster assistance accounted for
more than 14 percent of the World Bank’s overall portfolio and
it continues to grow. In light of the Bank’s evolving role, the
growing demands for the Bank to respond rapidly and effectively
to emergencies and the need for a more strategic approach to
disaster prevention in high risk countries, the Bank’s new
emergency policy (OP/BP 8.00) aims to improve the flexibility,
speed, and effectiveness of the Bank’s emergency response. It
also enables the Bank to adopt a more strategic approach to
crises and disaster risk reduction in the most vulnerable
countries. Demand for technical and financial assistance for
disaster prevention and preparedness is expected to grow in all
regions. A growing number of Bank disaster recovery projects
either include disaster mitigation elements or are followed by
specific investment lending for disaster prevention in client
countries. Yet, the challenge remains daunting: disaster-related
risks in developing countries con