Suriname Signs Agreement with World Bank to Enhance Environmental Resilience

Suriname and the World Bank’s new project aims to enhance disaster resilience, focusing on flood management and community-led initiatives. Funded by the IDA with US $22.2 million, it directly benefits 50,000 residents and addresses the critical flood risks posed by the country’s geography. The initiative reflects a commitment to sustainable development and community empowerment.

On February 28, 2025, Suriname and the World Bank announced a significant advancement in their development cooperation with the approval of the Suriname Preparedness and Enhancing Resilient Communities Project. This initiative, funded by the World Bank’s International Development Association (IDA), entails an investment of US $22.2 million and aims to bolster Suriname’s resilience against natural disasters as the first project initiated since Suriname’s membership in the IDA in October 2024.

The project is designed to directly assist 50,000 residents in the vicinity of Suriname’s capital, enhancing flood risk management, and supporting 35 communities in Paramaribo, Saramacca, and Wanica through resilience initiatives, notably with at least half of these driven by women. Given Suriname’s susceptibility to flooding, where an estimated 87 percent of the populace resides on low-lying coastal plains, the initiative addresses serious risks to livelihoods, infrastructure, and economic stability.

Stanley Raghoebarsing, Suriname’s Minister of Finance and Planning, emphasized the project’s significance, stating it represents not merely an investment in flood management but also a commitment to future community resilience and sustainable development. Through the collaboration with the World Bank, Suriname aims to safeguard its citizens in a proactive manner.

The project will incorporate enhancements in drainage infrastructure, disaster risk management, and local adaptation strategies, promising to lessen urban flooding, bolster emergency systems, and empower community-led resilience projects within the Greater Paramaribo area.

Diletta Doretti, the World Bank Resident Representative for Suriname, accentuated the project’s transformative potential. She highlighted that it would decrease flood vulnerabilities for numerous citizens, create inclusive solutions, and provide Suriname with access to affordable financing that could uplift community resilience.

The IDA, part of the World Bank Group destinada to aid low-income nations, leverages grants and low-interest loans to foster development and improve living standards in vulnerable regions. This project has garnered additional support from the Canada Caribbean Resilience Facility and the European Commission, through the ACP-EU Natural Disaster Risk Reduction Program, with assistance from the Global Facility for Disaster Reduction and Recovery.

In summary, the Suriname Preparedness and Enhancing Resilient Communities Project marks a critical step toward enhancing the country’s disaster resilience. With significant financial backing from the World Bank and collaborative support from various agencies, this initiative aims to protect vulnerable populations, improve infrastructure, and foster community-led solutions. The potential benefits of this program will greatly contribute to sustainable development and stability in Suriname.

Original Source: www.miragenews.com