European Union-World Bank/GFDRR Global Partnership On Disaster Risk Financing Analytics
Population growth, escalating concentration of assets, and climate change are increasing risk exposure and losses from natural hazards. Developing countries typically lack financial protection against the impacts of disasters and rely on retroactive budget reallocations, donor assistance, tax increases, or post-disaster loans to attempt to meet financing needs.
In December 2015, the European Union (EU) and World Bank/Global Facility for Disaster Reduction and Recovery (GFDRR) signed a partnership on disaster risk finance (DRF) analytics in order to help improve understanding and increase the capacity of governments to make informed decisions on DRF based on sound financial analysis. The project bridges the gap between catastrophe risk data, available commercial solutions, and informed sovereign DRF decision-making by developing and customizing DRF tools tailored to the capacity and data availability for each country. The overarching objective is to increase financial resilience of countries against natural disasters.
The Disaster Risk Financing Analytics Project is funded by the European Union, managed by the Global Facility for Disaster Reduction and Recovery, and implemented by the World Bank’s Disaster Risk Financing and Insurance Program.
Please access the webpage to read more.