Disaster risk financing
From HFA-PEDIA
Disaster Risk Financing and risk transfer mechanisms
Contents |
The Central American Probabilistic Risk Assessment (CAPRA)
CAPRA is being developed as a tool to will help to make better decisions about how, when and where to invest (financial) resources in order to achieve a significant reduction of economic losses due to disasters; as well as to motivate governments and politicians to make disaster risk reduction a national priority. CAPRA does not aim to replace any existing information product or service, but rather to build on the information that is produced by other mechanisms and institutions. Although CAPRA encompasses GIS capacities, it goes a step beyond towards estimating, for a given country or area and during a given period of time, the economic impact of distinct natural hazards taking into account several vulnerability scenarios.
CAPRA is a long-term process for which a first usable model, which will be fine-tuned and perfected over the coming years, should be ready within the first half of 2009. First try-outs will be Nicaragua and Costa Rica, after which, other countries and sub-regions will follow.
It is envisaged that CAPRA will become an important instrument to help countries implement activities related to priority I of the HFA, making disaster risk reduction a national priority and therefore to assign resources as required.
CAPRA is a joint initiative of the ISDR secretariat's regional unit for the Americas and the World Bank's Facility for Disaster Reduction and Recovery (GFDRR).
Related documents
Portable Virtual Library on Probabilistic Risk Assessment and Risk Financing (Spanish)
Disaster Risk Financing
Disaster Risk Management and Financing Strategy
Dr. Cassandra Rogers, Inter-American Development Bank (IADB)
Presented at the AEC High-Level Conference on Disaster Reduction
November 2007; Saint-Marc, Haiti
Risk Transfer via Parametric Insurance
Dr. Simon Young, Caribbean Catastrophe Risk Insurance Facility (CCRIF)
Presented in the ACS High-Level Conference on Disaster Reduction
November 2007; Saint-Marc, Haiti
Disaster Risk Management and Financing Strategy
Presented by Dr. Cassandra Rogers, Interamerican Development Bank (IADB)
ACS High-Level Conference on Disaster Reduction
November 2007; Saint-Marc, Haiti
Disaster Risk Financing: Reducing the Burden on Public Budgets
Swiss Reinsurance Company (Swiss Re); 2008
Economic Aspects of Vulnerability
World Meteorological Organization; s.l, 1999
World Bank's Catastrophe Deferred Draw Down Option (CAT DDO) - Costa Rica
Related webpages
GFDRR - World Bank's Global Facility for Disaster Reduction and Recovery
Managed by the World Bank on behalf of the participating donor partners and other partnering stakeholders, the Global Facility for Disaster Reduction and Recovery (GFDRR) is a partnership of the International Strategy for Disaster Reduction (ISDR) system to support the implementation of the Hyogo Framework for Action (HFA).
