Financial protection of critical infrastructure services
APEC member economies are among those most exposed to disasters globally; Asia-Pacific alone faces estimated annual economic losses caused by disasters of US$675 billion.Disaster losses can have a sizable fiscal impact on those economies most vulnerable to disasters, often setting back economic growth and poverty alleviation. In response, financial protection against disasters has gained significant traction globally, to reduce the fiscal impacts of disasters and ensure that finance is available for a speedy recovery. Ensuring high-quality, reliable, sustainable, and resilient critical infrastructure services when faced with such shocks is a growing priority and a part of many countries’ core national security planning.
International Bank for Reconstruction and Development, The World Bank Group
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