The 6th SEADRIF Technical Meeting and the 5th Technical Working Group Meeting for Public Assets Financial Protection were held in Himeji, Japan, on Monday, 17 June. This timing took advantage of the arrangement that most member countries were there to attend the Understanding Risk Global Forum 2024 (UR24) at the same venue and in the same week.
The 6th Technical Meeting began with welcome remarks from the co-chairs of SEADRIF, the Japan Ministry of Finance, and the Monetary Authority of Singapore. Following this, the Japan Ministry of Finance provided an update on the progress of the SEADRIF Initiative, and the SEADRIF Insurance Company team reported on the company’s key activities and business strategy. The World Bank team updated attendees on SEADRIF Technical Programs, including the World Bank’s Investment Projects Financing and Proposed Additional Financing. Updates on the ASEAN+3 Disaster Risk Financing (DRF) Initiative were shared by the Japan and Lao Ministries of Finance. The ASEAN Secretariat reported on the proposed SEADRIF’s 2024 Annual Workplan.
The 5th Technical Working Group Meeting for Public Assets Financial Protection was co-chaired by the Government of the Philippines and the Japan Ministry of Finance. After introductory remarks from the Government of the Philippines, the World Bank team provided an update on the World Bank support program. The SEADRIF Insurance Company team presented SEADRIF’s proposed engagement with member countries. The Governments of the Philippines, Indonesia, and Vietnam shared their perspectives on how member countries can work with SEADRIF. The group then discussed potential opportunities for regional cooperation.
The World Bank team led the drafting of the Outcome Statement for the 6th Technical Meeting & 5th Technical Working Group Meeting. The meeting concluded with a note of appreciation and closing remarks from the Japan Ministry of Finance.