Innovative finance for resilient infrastructure: preliminary findings
The Centre for Global Disaster Protection brings developing countries together with partners including the UK Government, the World Bank, civil society and the private sector with the shared goal of enhancing resilience to climate and disasters. The Centre works with governments to strengthen disaster preparedness, embed early action and enhance their financial resilience, including through the use financial tools like insurance.
In January, the Centre ran its first Innovation Lab in partnership with Lloyd’s of London to explore how innovations in finance could help countries to build back smarter after disasters. The event, which Vivid participated in, brought together more than 50 people from across the finance, humanitarian, engineering and development sectors. The outcomes from the Innovation Lab contributed to this report by Risk Management Solutions, Vivid Economics and re:focus partners.
For this Innovative finance for resilient infrastructure report, innovative insurance products for resilience were developed, which can provide much-needed pay-outs quickly in the event of a natural disaster, to help speed up the recovery of businesses and critical services like hospitals, power and schools.