This activity aims to build the financial resilience of PICs against natural disasters by providing both national and regional instruments building upon the PCRAFI catastrophe risk insurance pilot.  These instruments will PICs to secure access to immediate liquidity post disaster for low, medium and high risk events.  This activity will develop a new financial instrument designed to co-exist with the catastrophe risk insurance pilot to cover to those disaster which occur once every 10 to fifteen years providing access to finance for disaster that would not trigger an insurance payout.