The Catastrophe Deferred Drawdown Option (Cat DDO) provides assurance of rapid access to funds at cost-effective levels after a natural disaster has occurred. Guatemala, one of the top five high-risk countries in the world in terms of vulnerability to three or more hazards, requested and received  a Development Policy Loan (DPL) with a Cat DDO that complements other financial instruments and disaster risk management measures in place in the country. Two major disasters struck the country in 2010, and Guatemala used the Cat DDO to finance reconstruction and other expenses related to the natural disasters.