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More effective options for financing disaster risk, and relieving the burden of disasters from the public sector should be explored, including the idea of a catastrophe insurance pool, and/or contingent credit facilities. Also found was that, despite the high hazard risk in the Philippines, the insurance coverage for residential dwellings' catastrophes is almost non-existent. It is stipulated the Bank should examine the ongoing portfolio to identify how its projects can support the goal of disaster risk reduction. In addition, the Bank should consider more direct support to the development of an integrated disaster management risk approach, through the provision of technical assistance and lending Read more↗

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