Evaluation of the Emergency Reconstruction Facility (ERF)

The Bank's Executive Board approved the creation of the Emergency Reconstruction Facility (ERF) on November 11, 1998, along with Operational Policy Guidelines for addressing emergency situations arising from natural and unexpected disasters. The present evaluation (RE-264) is divided into three sections: 1) A background on the ERF in the context of both the growing frequency of natural disasters in Latin America and the Caribbean and the Bank's recent history of working with Borrowers to address the resulting challenges; 2) An evaluation of the loans with reference to the questions identified above; 3) Conclusions and recommendations with respect to the loans and the instrument of the ERF more broadly.