The World Bank has now confirmed that it has partnered with Nepal to explore the issuance of a parametric earthquake catastrophe bond for the country.
The World Bank confirmed that it and Nepal have signed a mandate agreement to explore the development of a catastrophe bond, which would be designed to enable Nepal to access funding quickly in case a major earthquake occurs.
Back in July, we reported that the World Bank had begun working on a proposed project to deliver a parametric earthquake catastrophe bond for Nepal, targeting between US $80 million and up to US $190 million of fully-collateralized disaster risk financing from the capital markets for the South Asian country.
FULL ORIGINAL PUBLICATION HERE