Southeast Asia Disaster Risk Insurance Facility (SEADRIF) 2.0: Boosting Financial Resilience in Southeast Asia

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This operation aims to strengthen SEADRIF’s capacity to provide effective disaster risk financing solutions to Southeast Asian countries, thereby enhancing preparedness and resilience against natural disasters. It supports SEADRIF’s core functions and long-term development through funding for operational costs, technical assistance, strategic outreach, and governance.The total grant of US$4.2 million is allocated across two main components:Component 1: SEADRIF Company Operations and Technical Delivery (US$3.2 million)This component supports the ongoing operationalization and strategic expansion of the SEADRIF Company, a general insurance company incorporated in Singapore since 2019. It finances core business operations, insurance product development, technical assistance, and the mobilization of private-sector risk capital. A needs and priority assessment will inform the SEADRIF Country Roadmap and guide the development of a future product pipeline. The component also invests in building institutional capacity and scaling strategic partnerships to support SEADRIF’s path toward financial sustainability.Component 2: Strengthening SEADRIF Trusts/Sub-Trust(s) Operations and Strategic Development (US$1 million)This component ensures the operational continuity and strategic development of the SEADRIF Trust and Sub-Trust(s). It enhances governance, project management, fiduciary oversight, and monitoring and evaluation systems. It also promotes member engagement and regional outreach through the development of a shared strategic roadmap, launching the SEADRIF Annual Forum, and targeted communications and advocacy to strengthen member participation and ownership.