A CRITICAL, INNOVATIVE INITIATIVE
Disasters and their aftermath –famines, pandemics, conflict, and migration– push 26 million people globally into poverty each year.
The frequency and severity of disasters will only be exacerbated by climate change.
Over the past few years, the World Bank has helped several vulnerable countries develop strategies to manage their financial risks. But several countries failed to implement these strategies because of lack of financing and technical know-how. That’s where the World Bank’s Global Risk Financing Facility (GRiF) comes in.
Through grants sourced from donor countries, GRiF helps provide vulnerable countries with financial assistance and technical expertise. Using these resources, countries can invest in disaster risk financing solutions and scale up their financial preparedness systems.
When disasters strike, recipient countries are quickly able to access funds for response, recovery and reconstruction.