Supporting disaster risk financing and transfer
Disasters affect human life and have profound impacts on local and national economies, sometimes setting back development gains by many years in countries with limited resources. Over the past decades, there has been a persistent increase in the number of disaster events, and hydrometeorological hazards accounting for the lion’s share of them. The DRR Activity Area, therefore, facilitates the development of weather, water and climate services for risk financing, insurance and other financial risk transfer mechanisms in order to cope with residual risks.