The World Bank has approved the Regional Emergency Preparedness and Inclusive Recovery Program (REPAIR), which is designed to boost financial resilience against climate shocks for Eastern and Southern African countries and leverages private market parametric disaster insurance risk transfer alongside its contingent credit DDO solution.
It’s evidence of the continued innovation at the World Bank in helping countries to become better financially protected against catastrophe, severe weather and climate related risks, while also tapping into private capital to assist with the funding.
This program will see a new risk pool created, a Regional Climate Risk Fund (RCRF), that will be designed to provide affordable, pre-arranged financing to Eastern and Southern Africa countries ahead of climate and other disaster shocks.
FULL ORIGINAL PUBLICATION HERE
