Incorporating a Disaster Risk Financing and Insurance Framework into Country Management and Development Strategies
The Asian Development Bank’s (ADB’s) developing member countries (DMCs) frequently suffer significant catastrophic losses from natural disasters. Since 2004, over $500 billion has been lost, with total damages averaging $107 million in losses per day and affecting 2.1 billion people. The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) reported that almost half of the 281 natural disasters that took place worldwide in 2019, including earthquakes, storms, droughts, and floods, occurred in Asia and the Pacific.
Sirivunnabood, Pitchaya; Alwarritz, Widya
Asian Development Bank Institute
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