Disaster risk finance: Being better prepared
Over the past two weeks, the world has been monitoring the tragic impact of the tsunami in Sulawesi
--a powerful reminder of the risks many communities and countries need to be prepared for every day. The scale of this disaster is apparent and shows the need for: immediate relief for those affected, international coordination and a continued investment in disaster resilience to protect lives and livelihoods.
In the face of devastation, Indonesia mobilized quickly—demonstrating the country’s experience dealing with disasters. For many countries, however, the impact of disasters can be much more devastating. An effective strategy to managing climate and disaster shocks calls for resilience, risk financing instruments and institutional capacity that empowers early response and gives teeth to recovery and reconstruction plans.
