Tuvalu, March 3 -- The World Bank has today committed US$7 million in new grants to support Tuvalu's financial management of and resilience to climate-related disasters. The Tuvalu Second Climate and Disaster Resilience Development Policy Financing is the second in a series of two operations aimed at mitigating climate impacts and strengthening disaster preparedness.Tuvalu is at the forefront of climate change. The low-lying atoll country is highly vulnerable to rising seas, frequent cyclones, prolonged droughts, and other climate-related events. These events have resulted in social and economic losses estimated at almost 7 percent of the country's GDP every year, according to the World Bank Group's 2024 Pacific Atoll Countries Climate and ...