DRFF in the News
Apr 17
2024
Washington D.C., April 17, 2023 - The World Bank (International Bank for Reconstruction and Development, or IBRD, AAA/Aaa), issued three catastrophe (cat) bonds that finance $420 million of insurance coverage for the Government of Mexico against named storm events along the Atlantic coast of Mexico and earthquake events. The cat bonds replace and increase by $60 million the previous cat bonds for these perils. Mexico is highly exposed to many natural hazards. Over 40 percent of the country’s... Keep reading
Mar 20
2024
In Sub-Saharan Africa, agriculture contributed 17 percent to GDP in 2022 and is therefore a crucial sector. Being predominantly rain-fed, the sector is extremely vulnerable to extreme weather. Limited financial resources to cope with and recover from the impact of climate shocks can destroy not just productive assets but entire livelihoods, ultimately resulting in poverty traps. Therefore, strong financial inclusion and protection strategies are key to building resilience for farmers and rural... Keep reading
Mar 14
2024
On February 29, " An introduction to Takaful and lessons from the experience of the DRIVE project" virtual webinar welcomed 22 participants to learn about Islamic Insurance. The session aimed to increase awareness around takaful, providing a greater understanding of its concepts, Shari’ah compliance, and implementation, as well as reflections on factors driving the increasing demand for inclusive climate takaful. Alwaleed Alatabani , Practice Manager for the Finance, Competitiveness, and... Keep reading