Suriname has signed a project with the World Bank valued at US$22.2 million aimed at enhancing the country’s resilience to environmental shocks. This project is the first IDA-financed initiative since Suriname’s membership. It is expected to benefit 50,000 residents through improved flood management and community-led initiatives, focusing on women’s leadership. The project addresses severe risks due to poor drainage and flooding, especially in the Greater Paramaribo region.
The World Bank has announced that Suriname has entered into a new agreement to bolster its resilience against environmental disruptions. This development marks a significant advancement in their cooperation, as the World Bank’s Executive Directors approved funding for the Suriname Preparedness and Enhancing Resilient Communities Project. With a budget of US$22.2 million, this is the first initiative financed by the International Development Association (IDA) following Suriname’s membership since October 2024.
This project aims to enhance the disaster resilience of approximately 50,000 individuals living near Suriname’s capital. It includes improved flood management strategies and community-led resilience efforts, particularly benefiting 35 communities in Paramaribo, Saramacca, and Wanica, with a focus on ensuring that half of these initiatives are led by women.
Suriname faces significant risk from coastal and rainfall-related floods, as over 87 percent of its populace resides in low-lying coastal areas. The World Bank highlighted that the Greater Paramaribo region, home to 67 percent of the population, is particularly vulnerable due to inadequate drainage systems. Without intervention, flood-related damages could escalate to US$140 million annually by 2040.
Stanley Raghoebarsing, Suriname’s Minister of Finance and Planning, emphasized the importance of this project, stating, “This project is not just an investment in flood prevention; it is an investment in the future resilience of our communities.” He also stressed the commitment to safeguarding their population and promoting sustainable development through collaboration with the World Bank.
The initiative seeks to strengthen urban flooding resilience and disaster risk management while also enhancing local adaptation strategies. It aims to upgrade drainage infrastructure in Greater Paramaribo, improve emergency preparedness resources, and support community projects that increase resilience.
Diletta Doretti, World Bank Resident Representative for Suriname, remarked on the transformative potential of the project, stating, “The potentially transformative effect of this project cannot be overstated.” She noted that it would reduce flood risks and build community resilience through locally-driven solutions while facilitating access to affordable financing from the World Bank.
The IDA is responsible for providing support to low-income countries and small island economies, aiming to help these nations improve their living standards, invest in sustainable futures, and create safer communities through grants and concessional loans.
The partnership between Suriname and the World Bank through the new project aims to enhance disaster resilience and manage flood risks effectively. With a focus on community involvement, particularly women’s leadership, the initiative addresses significant vulnerabilities in the Greater Paramaribo region. The funding and support provided by the IDA are critical for Suriname to implement effective flood management and economic stability measures.
Original Source: www.jamaicaobserver.com
