Developing the Elements of a Disaster Risk Financing Strategy | Asian Development Bank

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Developing the Elements of a Disaster Risk Financing Strategy

Event | 8 - 9 May 2018 Bangkok, Thailand
Time of event

09:00–18:00

Background

In 2017–2018, Asia witnessed several disasters. Mount Agung, a volcano in Bali, Indonesia, erupted five times. Tropical cyclones Ava, Irving, and Berguitta hit central and southern India. Papua New Guinea suffered an earthquake registering 7.5 on the Richter scale. Too many lives have been lost. The devastation and its impact on livelihoods and the global economy cannot be understated. It has reversed development gains and jeopardized the outcomes of many years of work by communities, governments, and development organizations.

The 2030 Agenda for Sustainable Development recognizes the damage caused by natural disasters. It reaffirms the principle of disaster risk reduction as indispensable to the broader objective of leaving no one behind. Disaster risk reduction approaches, frameworks, and tools must protect everyone, including those who are unbanked and underbanked, those who are vulnerable and financially excluded.

Safeguarding livelihoods from the impact of disasters must move up the policy agenda. Stakeholders must take a strategic approach to disaster risk financing to support disaster risk reduction and disaster response. The insurance industry, which provides instruments for transferring risk, needs to be enhanced to reinforce this process. It is also necessary to strengthen institutional capacities to manage disaster-related liabilities within public finance frameworks.

ADBI will organize a workshop—Developing the elements of a disaster risk financing strategy—together with the Organisation for Economic Co-operation and Development and the Asia Disaster Preparedness Center to promote policy dialogues among stakeholders and contribute to developing comprehensive disaster risk management frameworks for developing countries.

Objectives
  • Promote discussion among government officials and experts, and share policy insights and country experiences related to disaster financing strategies
  • Build the capacity of officials to design and implement innovative approaches to disaster financing strategies
Participants
  • 15 senior tax officials from Bhutan, Cambodia, the People’s Republic of China, Georgia, India, Indonesia, Lao PDR, Maldives, Myanmar, Pakistan, the Philippines, and Viet Nam
  • Experts from ADB, and representatives from other international organizations, government agencies outside the region, and the private sector knowledgeable in disaster risk financing
Output
  • Better knowledge of and capacity to understand innovative approaches to developing disaster risk financing
  • Enhanced dialogue among government officials and experts on key issues related to disaster risk financing strategies
  • Presentation materials to be uploaded to the ADBI website
How to register

By invitation only

Partners

Organisation for Economic Co-operation and Development (OECD), Asia Disaster Preparedness Center (ADPC)