The initiative seeks to build disaster-risk financing into development planning, enabling quicker fiscal response and reducing recovery costs for governments.
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.
US$730m has been pledged so far—only a quarter of Vietnam's Typhoon Yagi damage—and early projects could determine whether the fund attracts additional financing.
