In his welcoming dinner speech at the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) and related events, the Honourable Amir Hamzah, Malaysia’s Minister of Finance II, recognized SEADRIF as a valued regional partner in strengthening ASEAN’s economic resilience through capacity-building initiatives, technical assistance, and financial cooperation.
Dr. Yoshihiro Kawai, Secretary General of the ASEAN+3 Disaster Risk Finance (DRF) Initiative Secretariat and SEADRIF Initiative Director, delivered an extensive update on both Initiatives on April 8, 2025, during the ASEAN+3 Finance and Central Bank Deputies Meeting (AFCDM+3), held as part of the 12th AFMGM in Malaysia.
On behalf of SEADRIF, Dr. Kawai expressed sympathy to the people of Myanmar and Thailand affected by the March 28, 2025 earthquake. He noted SEADRIF’s swift support for the mobilization of global engineering experts—working with the World Bank, the Government of Japan, and other partners—to support Thai authorities in developing robust damage assessment methodologies and evaluating building safety.
As a vital component in ensuring the continuity of the ASEAN+3 DRF Initiative, Dr. Kawai sought ASEAN+3 Deputies’ endorsement of the concept note on the 2026-2028 ASEAN+3 DRFI Roadmap, which focuses on strengthening disaster risk finance foundations, expanding insurance coverage, and exploring financial instruments beyond insurance. The Roadmap is scheduled for Deputies’ endorsement in December 2025.
Dr. Kawai also reported on continued progress in capacity building to government officials through the Risk Resilience Program in partnership with Asian Development Bank Institute (ADBI) and the Global Asia Insurance Partnership (GAIP). He reported progress on SEADRIF’s work with member countries, including the SEADRIF Insurance Company’s pending policy renewal for Lao PDR, with financial support by the World Bank; the exploration of parametric insurance for public assets in the Philippines, and technical support to further strengthen the government’s current insurance programs with the state insurer GSIS.
He emphasized the ongoing close collaboration with ASEAN+3 members in charting the future of SEADRIF, with a core priority of strengthening partnerships with multilateral organizations to scale up protection and expanding impact.
