Croatia, Dec. 23 -- The World Bank Group's Board of Executive Directors approved a project aimed at strengthening Croatia's disaster preparedness and institutional, physical, financial and social resilience. The €100 million Disaster Preparedness and Resilience Development Policy Loan with a Catastrophe Deferred Drawdown Option (Cat DDO) will enable the government to better manage the fiscal impact of disasters by allowing it to quickly mobilize resources, facilitating emergency response and resilient recovery.Croatia faces significant risks from earthquakes, floods, landslides, heatwaves, droughts, and wildfires. Average annual economic losses are estimated at about 0.8% of GDP, while the 2020 earthquakes resulted in damages and loss...