SEADRIF is a regional initiative

SEADRIF takes the crisis out of disaster by developing and implementing financial solutions that arrange funds before a disaster even occurs. Read about who we are.

ASEAN: Stronger together

Acting together, countries can build more efficient financial solutions.

As the first regional risk financing facility in Asia, SEADRIF can count on significant support from donors and international partners.

As a regional platform under the political umbrella of ASEAN+3, it will:
  • serve as a forum for sharing knowledge and good practices.
  • promote shared investments in public goods to support the understanding of risk.
  • sustain political momentum – driving engagement and progress on disaster and climate shock management.

Who owns SEADRIF?

SEADRIF is an ASEAN+3 Initiative in partnership with The World Bank. It is composed of these four tracks:

  1. The SEADRIF Trust: a legal arrangement for SEADRIF open to all ASEAN+3 countries and governed by the Council of Members that will provide overall strategic direction for SEADRIF.
  2. SEADRIF Sub-Trust(s): an arrangement(s) for a sub-group(s) of SEADRIF member countries and development partners to develop and govern specific initiatives.
  3. The SEADRIF Trustee: holds the legal title to the assets of SEADRIF Trust and is the sole shareholder of the SEADRIF Insurance Company.
  4. The SEADRIF Insurance Company: a general insurance company registered in Singapore.

SEADRIF member countries

All ASEAN+3 countries can join SEADRIF and become members. There are no membership fees to join. Currently, the following countries are members:

Cambodia, Indonesia, Lao PDR, Myanmar, Philippines, Singapore, Japan, Viet Nam.

All participating countries sign the SEADRIF Memorandum of Understanding. SEADRIF is an ASEAN+3 initiative in partnership with the World Bank.

SEADRIF Insurance Company

SEADRIF Insurance Company is a general insurance company incorporated and licensed in Singapore.

With financial support from development partners, the SEADRIF Insurance Company provides disaster risk financing and insurance products to participating countries.

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Administrative Partner: The ASEAN Secretariat

The ASEAN Secretariat provides efficient coordination of ASEAN authorities and effective implementation of ASEAN initiatives and projects. As an administrative partner, the ASEAN Secretariat acts as the SEADRIF Secretariat.

Technical Partner: The World Bank Group

The World Bank has supported the SEADRIF initiative since inception, advancing the preparatory work for the region. At the request of member countries it continues to act as the Lead Technical Partner, providing analytical and advisory services, convening services, and financial support to the development and implementation of the initiative. The World Bank is not a member of SEADRIF.

The Joint Statement of The 26th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting

Incheon, Korea, 2 May 2023
Increased frequency and severity of natural disasters in the region underscores the importance of strengthening our resilience against potential economic and financial losses in future occurrences. The Meeting recognizes that initiatives for DRF, including the Working Group (WG) 3 and the Southeast Asia Disaster Risk Insurance Facility (SEADRIF) with support from the ASEAN Secretariat and the World Bank, have played an important role in this regard, and welcomes the upgrading of DRF as a regular agenda under the ASEAN+3 finance track. The “2023-2025 Action Plan of the ASEAN+3 Disaster Risk Financing Initiative” was endorsed at the Meeting, which sets out the key actions to explore insurance solutions and other financial products, facilitate knowledge exchange, and develop technical solutions including a regional data repository and monitoring tool, building on the existing regional initiatives such as the ASEAN Disaster Risk Financing and Insurance (ADRFI) and SEADRIF.

Download Previous Joint Statements

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Annual Report

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Environment and Social Management

The Environmental and Social Commitment Plan (ESCP) and the Environmental and Social Management System (ESMS) have been prepared by the SEADRIF Trustee and the SEADRIF Insurance Company, for public information and feedback

Read the ESCP hereRead the ESMS here

Stakeholder Engagement Plan (SEP)

The Stakeholder Engagement Plan and Grievance Mechanism (SEP) is part of the project's ESMS. Read the SEP here.

For any questions or comments or grievances, please contact SEADRIF Trustee and SEADRIF Insurance Company at [email protected].

Terms of Reference

Please read the ToR for Monitoring & Evaluation Consultant here.

Interested parties please contact [email protected]