Pacific Islands: Disaster Risk Reduction and Financing in the Pacific (News & Broadcast from the World Bank)

The Pacific Islands Countries (PICs), with a combined population of almost 10 million people, are highly exposed to natural disasters. In 2007, the World Bank established the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI) to develop disaster risk assessments tools and practical technical and financial applications to reduce and mitigate the countries' vulnerability to natural disasters. This initiative will contribute to improved post-disaster analysis and future disaster risk reduction planning for example, by reducing fiscal shocks through catastrophe financing, such as budget reserves, contingency facilities, or catastrophe insurance; or by establishing new building codes and rapid post-disaster assessments.

Read the full Brief: http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:23176294~menuPK:64256345~pagePK:34370~piPK:34424~theSitePK:4607,00.html?cid=ISG_E_WBWeeklyUpdate_NL