The plan outlines a shift toward wider regional capability, aiming to strengthen long-term resilience and drive greater impact for Pacific governments and communities.
The initiative seeks to build disaster-risk financing into development planning, enabling quicker fiscal response and reducing recovery costs for governments.
The fund will invest in small to medium-sized commercial infrastructure projects in emerging markets and developing economies and counts the International Finance Corporation, AXA, Generali, Swiss Re,...
The talks also cover potential funding mechanisms for the scheme, including the use of disaster relief funds or small deductions on utility bills, according to a government official cited by Reuters.
Annual report notes record US$3m payout to Lao PDR after Typhoon Yagi, capping a year of quick relief, expanded partnerships, and new coverage strategies for the region.
