FYR Macedonia’s membership to Europa Re was finalized on December 17, 2010 after two days of intense discussions between the World Bank and FYR Macedonian officials. FYR Macedonia will join the Facility as a new member in the spring of 2011. FYR Macedonia is seeking Europa Re membership to increase its resilience to both earthquakes and floods. The country has suffered numerous earthquakes over the past century that have resulted in significant fatalities and economic losses. Floods have caused even greater economic losses over the past 30 years. From 1989–2006, for example, floods constituted 44 percent of both natural and technological disasters. Together, FYR Macedonia has estimated about US$400 million losses in the last 33 years from floods and earthquakes.