The World Bank: Investing 1 dollar in prevention saves 7 dollars spent after a catastrophic event

30 August 2012 — Oana RADU
icar_120ICAR - The International CAtastrophic Risks Forum, the most important European event dedicated to catastrophic risks, will take place on October 15th, 2012 in Bucharest, Romania, this year's edition being again officially supported by The World Bank. The international organization is highly interested in property insurance against natural catastrophes, the main debate theme of this Forum's edition, since The project of reducing risks regarding natural catastrophes and the preparation for emergency situations, supported by The World Bank, has just ended.

"Romania is highly threatened by earthquakes, floods and landslides, these events having devastating consequences which include human casualties and property damage. Investing 1 dollar in prevention saves 7 dollars spent after a catastrophic event, for reconstruction", said Gabriel IONITA, Irrigations Specialist and project coordinator, World Bank.

The project of reducing risks regarding natural catastrophes and the preparation for emergency situations received a financing of USD 197 mil., out of which USD 143.4 mil. were given by The International Bank for Reconstruction and Development (IBRD), USD 46.6 mil. being offered by the Government and USD 7 mil. represented the contribution of GEF - The Global Environment Fund.

The participants of this year's ICAR Forum edition will have the opportunity to meet The World Bank's representatives in Bucharest, on the 15th of October.

For registration, click here!

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