The funding will be split between immediate humanitarian assistance and longer-term recovery and resilience initiatives across Indonesia, Thailand, and Sri Lanka.
Hong Kong’s insurance sector has introduced fast-track measures while pledging more than HK$100m (US$13m) to support those affected by the Wang Fuk Court fire.
The initiative uses a combination of insurance and technology, integrating big data, artificial intelligence, and IoT tools to enhance the monitoring and protection of ancient trees.
Research by the two organisations shows that 95% of micro, small, and medium enterprises in South and Southeast Asia lack financial protection against unexpected events.
The initiative will co-fund PhD scholars whose research focuses on cyclone and tsunami risk, advanced flood modelling, and remote sensing for disaster response.
