Financial mechanisms formulated to reduce vulnerability to disasters by employing structured instruments such as insurance policies and catastrophe bonds which spread risks in exchange for a premium.
4 Feb 2016, ADB
'Since the severe floods of 2011, the Government of Thailand has carried out several high level flood control schemes. The disaster risk management project aims to help reduce risks further by supporting greater community involvement in activities such as flood preparedness, response, and post-flood recovery,' said James Nugent, Director General of ADB’s Southeast Asia Department...
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