Sri Lanka Climate Resilience Multi-Phase Programmatic Approach Chair Summary The Executive Directors approved an IBRD financing envelope of US$774 million for a Climate Resilience Multiphase Programmatic Approach (MPA) program to the Democratic Republic of Sri Lanka including an IBRD loan in the amount of US$310 million for the first phase on the terms and conditions set out in the President's Memorandum. Mr. Bethel wished to be recorded as abstaining. Directors strongly supported this program and recognized the rationale for using the MPA for this operation. They expressed support for the phased and multi-sectoral approach that combines prevention with response to natural disasters and builds on a strong disaster risk management capacity in Sri Lanka. Directors supported the flexibility and adaptability of the MPA, noting the importance of drawing lessons from this operation to better inform the Board and the design of the MPA in future phases. Directors underscored the need for greater efforts to leverage strong citizen engagement and asked for continued focus on gender dimensions. Recognizing the ambitious and transformational nature of the program, Directors encouraged close monitoring of the risks, notably related to political and governance, environmental safeguards, relocation and resettlement, to ensure successful implementation of the program. In this regard, they highlighted the importance of long-term capacity building as well as close coordination with development partners. *This Summary is not an approved record.