world bank


World Bank links catastrophe & pandemic risk finance for the Maldives

The World Bank has delivered the first of a new combined catastrophe and pandemic contingent risk financing solution to the Maldives, leveraging existing structures to create something responsive and that works similar to insurance for the archipelagic nation.The Maldives is highly exposed to natural hazards and climate variability, and is read the full article →

World Bank to expand parametric risk transfer for Pacific Islands

In supporting the Pacific Island nations on their road to resilience, the World Bank aims to expand the availability of parametric disaster insurance protection, partly through the use of private capital, while expanding the range of parametric insurance products available in the region as well.Recently, the World Bank, alongside German read the full article →

Global Risk Financing Facility (GRIF) launched with World Bank support

The World Bank, alongside German and United Kingdom governments, have announced a new initiative to help vulnerable countries manage climate change and natural disaster related shocks, with the launch of the US $145 million Global Risk Financing Facility (GRiF).Announced at the World Bank and IMF Annual Meetings in Bali in read the full article →

Philippines gets $500m for typhoon Mangkhut from World Bank CAT DDO 2

The Philippines is to benefit from a payout of almost $500 million to assist with its recovery from recent typhoon Mangkhut, as the countries catastrophe contingent line of credit provided by the World Bank has been triggered.The Philippines entered into a $500 million arrangement with the World Bank to support read the full article →

Romania seeks World Bank Catastrophe Deferred Drawdown Option (Cat DDO)

A project is now underway that may see the country of Romania as the next in line to benefit from a Catastrophe Deferred Drawdown Option (Cat DDO) instrument from the World Bank, as the government of the country seeks to enhance its disaster risk financing support.The Catastrophe Deferred Drawdown Option read the full article →

Kenya in line for World Bank Catastrophe Deferred Drawdown Option

The African nation of Kenya is the next country in line to benefit from a Catastrophe Deferred Drawdown Option (Cat DDO) from the World Bank, with a project underway to deliver a $200 million disaster risk financing arrangement including a catastrophe contingent line of credit, alongside development financing.The Catastrophe Deferred read the full article →

World Bank looking to “push the boundaries” of ILS capital: Michael Bennett

The establishment of the World Bank’s capital-at-risk notes program almost four years ago set the foundation for continued innovation and expansion, as the organisation looks to “push the boundaries” of insurance-linked securities (ILS) market risks, according to Michael Bennett, Head of Derivatives & Structured Finance, World Bank Treasury.Speaking with Artemis read the full article →

Dominican Republic gets $150m World Bank catastrophe contingent credit

The Dominican Republic has secured the first catastrophe contingent line of credit in the Caribbean, with a $150 million Catastrophe Deferred Drawdown Option (Cat DDO) supported by the World Bank, that provides immediate financing in the event of natural disasters or public health emergencies.The World Bank explains that this is read the full article →

World Bank calls for pandemic facility expansion to include private BI cover

The World Bank has called for the ongoing development of its Pandemic Emergency Financing Facility (PEF), to incentivise greater investment in preparedness, and take advantage of the opportunity to deliver business interruption (BI) cover for the private sector as it works towards PEF-2.The World Bank launched the PEF in 2016 read the full article →

ADB examines disaster risk financing options for the Philippines

The Philippines has long been the focus of disaster risk financing and insurance discussions, given its exposure to typhoons, earthquakes, fires, rainfall, floods and drought, and now the Asian Development Bank (ADB) is examining options for disaster insurance facilities.The World Bank has been discussing catastrophe bonds in the Philippines for read the full article →