The Asian Development Bank (ADB) approved the establishment and administration of a new trust fund:
The Integrated Disaster Risk Management Fund will provide grants to Southeast Asian countries for developing proactive integrated disaster risk management policies and programs that emphasize ex ante disaster risk management, develop disaster risk finance options, integrate community-based and gender-focused approaches, and link disaster risk reduction and climate change adaptation. Cambodia, Indonesia, the Lao People's Democratic Republic, Myanmar, the Philippines, Thailand, and Viet Nam are eligible for funding. Support will be provided on a regional basis to three or more of these countries. Southeast Asia's risk of natural hazards is high, compounded by the rapid rate of urbanization, its proximity to seismically active faults and volcanic zones, its tsunami-prone coasts, and its susceptibility to the effects of climate change. Since 2000, more than 100 million people in the region have been impacted by natural disasters. The region loses an estimated 0.3% of its gross domestic product (GDP) to disasters annually, with some countries incurring annual losses of 1%-2% of GDP.