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Nepal and World Bank to explore earthquake catastrophe bond
Original: Nepal and the World Bank Group Announce Partnership to Explore Catastrophe Bond for Earthquake Risk
Nepal and the World Bank Group have announced a partnership to explore issuing a catastrophe bond to cover earthquake risk. The instrument would transfer some of the financial burden of a major quake to capital markets, paying out if a qualifying disaster strikes. Officials hope the arrangement could give Nepal faster access to recovery funds after an earthquake.
Why now: A new disaster-risk financing partnership for a highly earthquake-prone country is drawing attention from development and finance observers.
Evidence
- Nepal and the World Bank Group Announce Partnership to Explore Catastrophe Bond for Earthquake Risk · World Bank Group
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