DRFF in the News
Apr 25
2024
Washington D.C., April 25, 2024 - The World Bank (International Bank for Reconstruction and Development, or IBRD, AAA/Aaa), priced a catastrophe (cat) bond that finances US$150 million of insurance coverage for the Government of Jamaica against named storm events. This is the renewal of the World Bank’s 2021 cat bond for Jamaica, which was the first small island state to independently sponsor a cat bond. Jamaica is exposed to tropical cyclone events that threaten not only lives and livelihoods... Keep reading
Apr 23
2024
On March 21, 2024, the Government of Sierra Leone launched its National Disaster Risk Financing Strategy and Implementation Plan for 2024-2029 at the Atlantic Hotel in Freetown, in collaboration with the World Bank Group’s Disaster Risk Financing and Insurance Program (DRFIP). The event was led by Minister of Finance Sheku Ahmed Fantamadi Bangura, drawing over 60 delegates from various ministries, international organizations and development partners. The diverse attendance at the launch... Keep reading
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