Humanitarian Assistance and Disaster Relief (HADR) Challenge 2021

Every year, the cost of damages from natural disasters such as floods, earthquakes, and landslides amount to approximately 300 billion USD. In the case of a natural disaster, it is crucial for governments to quickly address recovery efforts and manage the financial aspects of the disaster’s impact. This is especially true for market-emerging economies such as countries in Southeast Asia.

The World Bank Group’s Southeast Asia Disaster Risk Insurance Facility (SEADRIF) has started a regional catastrophe risk pool especially for flood risks developed by and for Cambodia, Lao PDR, and Myanmar with technical assistance from the World Bank Disaster Risk Financing & Insurance Program (DRFIP). However, these flood products only provide estimates of flood extent but not water depth which is strongly correlated with damage and needs.