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

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The development objective of the Southeast Asia Disaster Risk Insurance Facility (SEADRIF): Strengthening Financial Resilience in Southeast Asia Project for East Asia and Pacific is to improve access to pre-arranged financing through market-based mechanisms for responding to disasters in Southeast Asian countries. The project comprises of three components. The first component, capitalization of the SEADRIF Insurance Company provides grant financing to the trustee who will then subscribe shares to the Company as the sole shareholder. The second component, establishment and operationalization of the SEADRIF Insurance Company supports the setup and operationalization of the Company, including inter alia regulatory fees, risk modeling, (new) product development, communications, system development, and other related professional fees and costs necessary for the set-up and operations of the Company. The third component, establishment and operationalization of SEADRIF trust and sub-trust(s), project management, monitoring and evaluation (M and E) supports the trustee for: (a) the establishment and operations of SEADRIF trust and sub-Trusts, fulfillment of the trustee’s role as the sole shareholder of the Company, and (b) the project management, and M and E.