In what could mark a significant step for sovereign risk management in East Africa, Rwanda is weighing the use of catastrophe bonds within a new disaster risk finance (DRF) strategy according to the World Bank Group.
Over 100 government officials, development partners and financial experts reportedly met in Kigali in October for a workshop to validate Rwanda’s new disaster risk finance strategy, with the end goal being to make sure that the country has funds ready for when the next disaster strikes.
The workshop, which was organised by the Government of Rwanda, the World Food Programme, and the World Bank Group, marked an important shift towards the country’s future plans to respond to natural disaster events.
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