Philippines to join ASEAN disaster risk insurance facility

Source(s): Manila Bulletin Publishing Corporation

By Chino S. Leyco

In a statement, Finance Secretary Carlos G. Dominguez III said yesterday that the Philippines is set to join this month five other members of the ASEAN along with Japan in operating a disaster risk insurance facility.

Dominguez III assured Japan Deputy Prime Minister and Finance Minister Taro Aso of the Philippines’ commitment to sign the Memorandum of Understanding (MOU) on the establishment of the Southeast Asia Disaster Risk Insurance Facility (SEADRIF).

[...]

The first product of this facility, which was formed with technical support from the World Bank, is the establishment of a regional catastrophe risk insurance program for Lao PDR and Myanmar.

By signing the MOU, the countries agree to collaborate on setting up and operating SEADRIF, which is initially co-chaired by Japan and Singapore.

[...]

Explore further

Country and region Philippines
Share this

Please note: Content is displayed as last posted by a PreventionWeb community member or editor. The views expressed therein are not necessarily those of UNDRR, PreventionWeb, or its sponsors. See our terms of use

Is this page useful?

Yes No Report an issue on this page

Thank you. If you have 2 minutes, we would benefit from additional feedback (link opens in a new window).