Suriname Initiates Project with World Bank to Enhance…

Suriname has signed a US$22.2 million project with the World Bank to strengthen resilience against environmental shocks. The initiative will directly benefit 50,000 residents, focusing on flood risk management and community-led solutions. It aims to address the vulnerabilities faced by areas prone to coastal and rainfall-related floods, emphasizing sustainable development and community resilience.

The World Bank has revealed that Suriname has initiated a significant project aimed at enhancing its resilience to environmental shocks. This collaboration represents a critical advancement in development cooperation, with the Suriname Preparedness and Enhancing Resilient Communities Project receiving approval from the World Bank’s Board of Executive Directors. Financed by an investment of US$22.2 million, this initiative is the first supported by the International Development Association since Suriname’s membership began in October 2024.

This project is expected to directly benefit about 50,000 residents in and around Paramaribo, improving flood risk management and community-led initiatives in 35 neighborhoods, which will include at least 50 percent women-led interventions. Suriname faces significant challenges due to recurrent coastal and rainfall-related floods, with over 87 percent of its population residing along low-lying areas prone to severe risks affecting their livelihoods and infrastructure.

The Greater Paramaribo region, accommodating two-thirds of the population, is particularly threatened by inadequate drainage and maintenance issues. The potential for annual flood-related damage could escalate to US$140 million by 2040 without proactive measures. Suriname’s Minister of Finance and Planning, Stanley Raghoebarsing, emphasized the project’s importance for flood prevention and long-term community resilience.

The Suriname Preparedness and Enhancing Resilient Communities Project marks a transformative milestone in the nation’s efforts to combat environmental threats. By focusing on community resilience and disaster risk management, the initiative aims to mitigate flooding impacts while promoting sustainable development. With substantial financial backing from the World Bank, the project represents a commitment to safeguarding lives and infrastructure against imminent environmental challenges.

Original Source: www.jamaicaobserver.com