The SEADRIF Initiative successfully held a Disaster Risk Financing (DRF) Action Plan workshop in Vientiane on Wednesday, November 6, 2024, on the sidelines of the ASEAN+3 Task Force meeting. The workshop gathered representatives from ASEAN+3 countries, the World Bank, and other strategic partners such as Asian Development Bank and Global Asia Insurance Partnership for constructive discussions.
The workshop reviewed the progress of the ASEAN+3 DRF Action Plan and provided a forum for stakeholders to discuss and align on the strategic thrusts of the initiative. It secured support for advancing DRF solutions under ASEAN+3 and SEADRIF, focusing on public asset protection, enhanced knowledge sharing, and streamlined governance. SEADRIF’s commitment to protecting public assets aligns with ASEAN's substantial need to safeguard infrastructure investments in the face of increasing disaster vulnerabilities. As a regional platform, SEADRIF promotes efficiency and economies of scale for DRF in the region. ASEAN+3 members are encouraged to utilize SEADRIF to strengthen their DRF capabilities and develop tailored solutions.
In collaboration with the SEADRIF Insurance Company, the SEADRIF Initiative team will work on a proposal to improve the organizational structure of the ASEAN+3 DRF Initiative and SEADRIF. This proposal will clarify roles, outline strategy, and include a performance assessment mechanism to track progress.