The Asian Development Bank is developing disaster risk financing instruments for selected cities in Indonesia, the Philippines, Viet Nam, and at a national level in Bangladesh. But none of these instruments will be realized without strong commitment from governments.
By 2050, 64 percent of Asians - or 3.3 billion people - will live in cities, which are already economic centers highly vulnerable to climate change. Recent research shows that of the 100 global cities with the greatest exposure to natural hazards, more than half are in Asia - 21 in the Philippines, 16 in China, 11 in Japan, and eight in Bangladesh.