Global Risk Financing Facility (GRiF) Annual Report 2022

This GRiF Annual Report documents activities from July 2021 until June 2022. 

GRiF has received contributions of over $316 million from donors since 2018. In turn, it has awarded grant funding of $213 million to more than 40 World Bank projects including 13 Innovation Investments that enhance the quality and availability of climate and disaster finance risk data. Since inception, GRiF’s grants have supported or cofinanced a World Bank project portfolio valued at over $8 billion. The GRiF portfolio continues to address strategic areas of engagement across all regions of World Bank operations. The Africa East and Southern region (AFE) has received approximately 50 percent of GRiF’s grants with the Africa West and Central (AFW) region receiving 21 percent and the East Asia and Pacific (EAP) region receiving 13 percent. Innovation Investments have received 6 percent of the total financing to date. The allocation of grants continued to follow these overall trends in the fiscal year 2022.

During the reporting period, GRiF also approved two new scoping grants that fund the technical assistance and initial analysis necessary to develop country-specific financial solutions. In the Lao People’s Democratic Republic, GRiF is providing $200,000 to lay the groundwork for what is known as a shock-responsive fund; it will cover the costs of road repair along a critical transportation corridor in the event of a shock, in this instance, severe flooding. A second $200,000 grant will assess which risk transfer instruments will best provide Nepal the financial capacity to respond to earthquakes and flooding; in the last 20 years, the country has lost an estimated $7 billion owing to earthquakes.