Official Documents- Statutory Committee Report for Loan 8439-SC (Closing Package)

 OFFICIAL DOCUMENTS STATUTORY CO 1\QMITEM P6p '" TO: The President, International Bank for Reconstruction and Development Agreement on the Report of the Committee under Section 4 (iii) ofArticle III of the Articles of Policy Loan with a Catastrophe proposed Loan (Disaster Risk Management Development Deferred Drawdown Option) to the Republic of Seychelles the Articles of Agreement of The undersigned Committee constituted under Section 7 of Article V of submits its report pursuant to International Bank for Reconstruction and Development (the Bank) hereby the Bank grants to the Republic Section 4 (iii) of Article III of said Articles in respect of the proposal that said loan is to strengthen the of Seychelles a loan in an amount of $7,000,000. The purpose of agenda and enhance its capacity Government of Seychelles' Disaster Risk Management policy and reform to efficiently respond to disasters. . such a loan, and of the 1. The Committee has carefully studied the merits of the proposal to grant purpose to which the proceeds of the loan are to be applied. proceeds of such loan 2. The Committee is of the opinion that the program in support of which the in Article I of said Articles of are to be applied comes within the purposes of the Bank as set forth of the productive facilities and Agreement, and that said program is designed to promote the development Republic of Seychelles and of the resources of the Republic of Seychelles and is in the interest of the members of the Bank as a whole. assistance from the Bank, 3. Accordingly, the Committee finds that said program merits financial and hereby recommends said program for such assistance.  -2- (Disaster Risk Management Republic of Seychelles Development Policy Loan with a Catastrophe Deferred Drawdown Option) COMMITTEE Senior V- ePresident and Group General Counsel Expert Selected by Governor for Republic of Seychelles Re onal Vice President Africa Region Vice President and WBG Chief Risk Officer Senior Vice President and Chief Economist Dated at Washington, D.C. A6q#s'r z25, g