DRFF in the News
Mar 29
2023
WASHINGTON, March 28, 2023 —The World Bank’s Board of Executive Directors today approved a $100 million loan to help the Indian state of Odisha strengthen its early forecasting systems for improved response to disasters and enhance its social protection coverage for poor and vulnerable households through digital platforms. The coastal state of Odisha is vulnerable to natural disasters with cyclones hitting the state every 15 months on an average. The state’s 480 km coastline is also exposed to... Keep reading
Mar 27
2023
Posted on March 22, 2023 by James Verstringhe London, 22 March 2023 – In a first for Africa’s second most disaster-prone country, the Mozambique Government through the National Institute of Disaster Management (INGD) has purchased cyclone insurance in an effort to protect its most vulnerable populations from the increasingly frequent impact of cyclones. Africa Specialty Risks was the lead reinsurer in the inaugural Mozambique cyclone parametric placement. This innovative wind speed and rainfall... Keep reading
Mar 21
2023
The Philippines, located in the Pacific ring of fire, is one of the world’s most high-risk countries. Every year, it is hit by disasters such as typhoons, earthquakes, volcanic eruptions, and floods. Over the past decade, the country has become a risk finance champion in the region, expanding the menu of tools and instruments for financial resilience to disasters. The innovations include the institution of the first catastrophe bond and development of a parametric insurance program for the... Keep reading