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How Can Innovative Financing Solutions Help Build Resilience to Natural Disasters?

Francis Ghesquiere's picture
Resilience Dialogue 2014


By Francis Ghesquiere and Olivier Mahul

This week, the Resilience Dialogue, bringing together representatives from developing countries, donor agencies and multilateral development banks, will focus on financing to build resilience to natural disasters. 

There is growing recognition that resilience is critical to preserving hard won development gains. The share of development assistance supporting resilience has grown dramatically in recent years. New instruments have emerged in particular to help client countries deal with the economic shock of natural disasters. In this context, an important question is which financial instruments best serve the needs of vulnerable countries? Only by customizing instruments and tools to the unique circumstances of our clients, will we maximize development return on investments. Clearly, low-income countries with limited capacity may not be able to use financial instruments the same way middle-income countries can. Small island developing states subject to financial shocks where loss can exceed their annual GDP face vastly different challenges than large middle-income countries trying to smooth public expenditures over time or safeguard low-income populations against disasters.  

Sustainable Development Gains Require Greater Climate and Disaster Resilience

Rachel Kyte's picture

 Richard Whitcombe/Shutterstock

Average economic losses from natural disasters are rising, despite considerable efforts to better manage risk from natural hazards over the last few decades. Data from Munich Re shows a sharp rise, from $50 billion a year in the 1980s to just under $200 billion annually in the last decade. Population growth, rapid urbanization, and climate change are compounding these losses. Securing prosperity in the midst of growing hazards is an enormous challenge that demands a new approach to development.

The international community is rising to meet this challenge head-on. Last week in Oslo, Norway, I had the privilege of participating in the 15th Consultative Group Meeting for the Global Facility for Disaster Reduction and Recovery (GFDRR), where 75 representatives from partner countries and international development organizations met to help scale up and better mainstream efforts to build climate and disaster resilience in some of the most vulnerable communities around the globe.

With the importance of this effort in mind, I co-authored an article with Norwegian Minister of Foreign Affairs Børge Brende, in which the minister and I argue that sustainable development gains require a new approach towards mitigating risk from climate change and natural hazards. After the recent days spent with my colleagues in Norway, I’m encouraged by the shared enthusiasm of GFDRR and its partners for the task ahead. It’s time to get to work.

The View Across Haiti & the Need for Disaster Resilience

Rachel Kyte's picture

Available in Français

Rachel Kyte and others in the Political Champions group met with officials in Haiti. Photo credit: PNUD HaitiStanding atop a disused amphitheater in a disused airforce base, we could see over the surrounding area. On the right, a sea of shacks nuzzled together in hope and desperation. On the left, stretches of cracked concrete with just one shack here, one shack there.

The emptying expanse to the left was the story of success. More than three years after the massive earthquake that shattered so much of Port-au-Prince, Haiti, rental subsidies were moving households quickly out of camps to houses in the community.

On the Path to Resilient Development – 2015 & Beyond

Francis Ghesquiere's picture

Available 日本語

Building a sea wall in Kiribati. Lauren Day/World Bank

These are exciting days at the World Bank Group. We are getting ready to receive delegates from our 188 member countries, who will gather in Washington for the WBG-IMF Spring Meetings.

It is an especially important time for the Global Facility for Disaster Reduction and Recovery (GFDRR) and the disaster risk management team at the World Bank, as we prepare to host – together with the European Union, the Government of Japan, and USAID – the fourth round of the Resilience Dialogue. This round we are focusing on the role disaster and climate resilience can play in the post-2015 development framework.

Disaster and climate risks were not addressed as part of the original framework of the Millennium Development Goals (MDGs). Recent experience has provided countless examples of the devastating impacts of disasters – impacts that go well beyond dollar signs or GDP statistics. It has become evident that disaster and climate risks are impediments to the achievement of poverty reduction and sustainable development goals, and should therefore be integrated in the development framework that will replace the MDGs.

Too little water, too many droughts

Kristina Nwazota's picture

Understanding Risk Forum 2012, Cape Town, South AfricaIt was gratifying this morning to sit in a room filled with disaster risk reduction and management experts from around the world to open the 2012 Understanding Risk Forum. The Forum focuses on  how countries and their development partners can work together to protect people and communities against the impacts of climate-related natural disasters.

In Sub Saharan Africa, these disasters range from floods caused by cyclones and rising sea levels in coastal countries like Mozambique and Madagascar, to droughts caused by too little rainfall in places like Mauritania, Mali, Chad, Burkina Faso and Niger in the Sahel and Somalia, Ethiopia, Eritrea and Sudan in the Horn. As the World Bank's Jonathan Kamkwalala said, many disasters are hydro-meteorological in nature, meaning too little water resulting in droughts or too much water resulting in floods. Volcanoes also are a concern in Africa, although many wouldn't know it. The Democratic Republic of Congo's Mount Nyiragongo is an active volcano, one that could erupt in the very near future.

Open Data and Mapping for Disasters and Development

Tariq Khokhar's picture

This post is a summary of one that appeared on the Global Facility for Disaster Reduction and Recovery Site and was originally authored by Christina Irene.

"Openness is critical for inclusive development and a thriving civil society"

The above words from Suzanne Kindervatter of InterAction underscored the theme running through a unique gathering at World Bank headquarters in Washington on May 3, 2012. Almost 200 people from more than 70 organizations met for a half-day workshop on free and open source geographic information system―better known as GIS―mapping tools. Mapping experts and development professionals came together under the newly launched “GFDRR Innovation Series” –that brings together individuals and organizations that work on similar issues.