The Disaster Risk Financing and Insurance Program (DRFIP) helps countries ensure that their populations are financially protected in the event of a disaster. Through funding and expertise, DRFI supports countries to develop and implement tailored financial protection strategies that increase the ability of national and local governments, homeowners, businesses, agricultural producers, and low income populations to respond more quickly and resiliently to disasters.
DRFIP is a leading partner of developing countries seeking to develop and implement comprehensive financial protection strategies. A joint initiative of the World Bank Group’s Finance, Competitiveness, and Innovation Global Practice and the Global Facility for Disaster Reduction and Recovery (GFDRR), DRFI was established in 2010 to improve the financial resilience of governments, businesses, and households against natural disasters.
The initiative supports governments to implement comprehensive financial protection strategies, and brings together sovereign disaster risk financing, agricultural insurance, property catastrophe risk insurance, and scalable social protection programs. Often, it also helps governments work with the private sector to facilitate public-private partnerships.