fbpx 51312-001: City Disaster Insurance Pool Project | Asian Development Bank

Philippines: City Disaster Insurance Pool Project

Sovereign (Public) Project | 51312-001 Status: Proposed

The Philippine City Disaster Insurance Pool (PCDIP) will be structured as a dedicated insurance pool to provide cities with cost-effective, parametric insurance providing near-immediate payouts for post-disaster response.

Project Details

Project Officer
Ainabe, Benita Southeast Asia Department Request for information
Country
  • Philippines
Sector
  • Finance
 
Project Name City Disaster Insurance Pool Project
Project Number 51312-001
Country Philippines
Project Status Proposed
Project Type / Modality of Assistance Loan
Source of Funding / Amount
Loan: City Disaster Insurance Pool Project
Ordinary capital resources US$ 100.00 million
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Governance and capacity development
Knowledge solutions
Partnerships
Sector / Subsector

Finance / Insurance and contractual savings

Gender Equity and Mainstreaming No gender elements
Description The Philippine City Disaster Insurance Pool (PCDIP) will be structured as a dedicated insurance pool to provide cities with cost-effective, parametric insurance providing near-immediate payouts for post-disaster response.
Project Rationale and Linkage to Country/Regional Strategy The Philippines is widely regarded as one of the world's most disaster-prone countries and most likely to be economically impacted by disasters. The proposed Philippine Disaster Insurance Pool Project (PCDIP) seeks to narrow the funding gap between available funds and post-disaster response costs at local government unit (LGU) level in the event of medium-to-high severity events. PCDIP will allow the cities to become self-sustaining in managing disaster risk and protecting and rehabilitating their assets and infrastructure in the event of damage.
Impact Safer, adaptive and disaster resilient communities enhanced
Outcome Financial preparedness for disasters is improved
Outputs

PCDIP established and made operational

DRF capacity of cities increased.

Geographical Location Nation-wide
Safeguard Categories
Environment FI-C
Involuntary Resettlement FI-C
Indigenous Peoples FI-C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Responsible ADB Officer Ainabe, Benita
Responsible ADB Department Southeast Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SERD
Executing Agencies
Department of Finance
DOF Building
Bangko Sentral ng Pilipinas Complex
Roxas Blvd., Manila, Philippines
Timetable
Concept Clearance 19 Jun 2018
Fact Finding 03 Dec 2018 to 30 Apr 2020
MRM 13 Jul 2020
Approval -
Last Review Mission -
Last PDS Update 30 Mar 2020

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

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Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

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Related Publications

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Tenders

No tenders for this project were found.

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.