Law No. 602 of Risks Management
The law creates the National Advisory for the Reduction of Risks and Attention to Disasters, which will include the national as well as provincial and municipal governments. The board allows for regional governments to declare a state of emergency without a federal decree. It further decentralizes responsibility to local governments to implement resiliency plans in preparation for climate and natural disasters before they occur.
The law creates an initial fund of 0.15% of the national budget, amounting to BOB80m (USD11.6m) to fund humanitarian aid during aftermath of natural disasters.