Narrowing the disaster risk protection gap in Central Asia

This publication examines risks from flooding and earthquakes in the Central Asia Regional Economic Cooperation (CAREC) region. It assesses the protection gap and identifies ways of strengthening financing. The intention of the study is to better understand the current approach to disaster risk finance in each member country, to identify opportunities to strengthen financing arrangements. The report also inputs into the design of the regional disaster risk transfer facility to be developed under this technical assistance.

Key takeaways:

• All CAREC member countries have a deficit of robust risk financing for flood and earthquake disaster risk. The varying levels of financing are testament to the progress made by some governments over several years. Others, meanwhile, face a high level of disaster risk without sufficient financial protection.
• A regional approach to disaster risk management and financing could benefit many countries simultaneously. With common risks faced from floods and earthquakes, regional cooperation solutions can materially narrow the protection gap.