DRFF in the News
Jun 24
2022
WASHINGTON, June 23, 2022 — The World Bank Board of Directors approved $327.5 million to cushion pastoralists in Djibouti, Ethiopia, Kenya, and Somalia from the impacts of drought and better connect them to markets. The De-risking, Inclusion and Value Enhancement of Pastoral Economies in the Horn of Africa (DRIVE), will enable the region to adapt to the impacts of climate change, commercialize livestock production in pastoralist communities, and ensure inclusion of the marginalized and... Keep reading
May 16
2022
The seventh webinar of the Global Risk Financing Facility (GRiF) Technical Talks took place virtually on May 5, 2022. The webinar featured an overview of the key findings, main implementation highlights, and lessons learned from 2021 GRiF Annual Report. The session also highlighted one of the most innovative projects of the year, the Jamaica Catastrophe Bond. Olivier Mahul (Practice Manager, Crisis and Disaster Risk Finance, World Bank Group) in his opening remarks, briefly discussed the... Keep reading
May 03
2022
A catastrophe (cat) bond sponsored by Jamaica and issued by the International Bank for Reconstruction and Development ( IBRD CAR 130 ) was announced as the winner of the “ Closing the Protection Gap Initiative of the Year ” award at the Trading Risk awards ceremony in London on April 28 th , 2022. This innovative cat bond transaction leverages the World Bank’s unique Capital at Risk (CAR) note program for the benefit of Jamaica. The cat bond issued in July 2021 provides Jamaica with $185... Keep reading