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This study has been undertaken as part of the broader initiative of the Panama City waterfront redevelopment and resilience program of the World Bank. The study aims to support Panama City to materialize the visions of the SEA (Coastal System of Open Spaces) initiative of the municipality of Panama, in this case for the Tocumen watershed and its coastline. The project aims to further support efforts to mainstream the implementation of nature-based solutions (NBS), in line with publications such as implementing nature-based flood protection: principles and implementation guidance. The overall objective of this study was to evaluate flood hazard and risk in the Tocumen catchment, considering both present-day and future risks, and to assess the potential of natural solutions, such as mangroves and riparian vegetation, and hybrid solutions, such as mixed green, grey, structural, and non-structural interventions, for contributing to flood risk resilience.