Can results-based financing help countries better prepare for natural disasters?Can we use financial incentives to promote disaster prevention instead of disaster response? And how can insurance programs mitigate the financial fallout that often accompanies disasters?
In Morocco, we’ve been working with the government to pilot the World Bank’s first Program-for-Results (PforR) loan in disaster risk management and resilience. This PforR adopts a rare and integrated approach to strengthening a country’s resilience to natural disasters by:
- building institutional resilience through improved government coordination;
- building physical resilience through investment in risk reduction;
- and financial resilience through catastrophe risk insurance.
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