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The ADB Contingent Disaster Loan which is part of their policy-based lending, is a loan provided by the ABD which is linked to a disaster.
A key feature of Contingent Disaster Financing is that it supports essential policy reforms to strengthen disaster preparedness that are to be completed before a natural disaster occurs. Once a CDF is approved for a country, it remains active until a disaster occurs. The country can then quickly access the approved financing to help relieve fiscal constraints for urgent relief and recovery efforts and avoid disruptive reallocations from priority budget programs.
The ADB Contingent Financing Grant is a grant made available upon a soft trigger (for instance, declaration of state of emergency) with a disbursement-linked repayment schedule.
The ADB Contingent Financing Loan is a loan made available upon a soft trigger (for instance, declaration of state of emergency) with a disbursement-linked repayment schedule.
The ADB Emergency Assistance Grant is a standard emergency assistance grant provided by the ADB.
The ADB Emergency Assistance Loan is a standard emergency assistance loan provided by the ADB.
The ADB Normal Asian Development Fund (ADF)/Ordinary Capital Resources (OCR) development loan is a standard development loan provided by the ADB.
The Emergency Response Coordination Centre (ERCC) supports a coordinated and quicker response to disasters both inside and outside Europe using resources from the countries participating in the EU Civil Protection Mechanism.
Grants provided to Red Cross/Crescent National Societies (rather than governments) for emergency relief and all activities which meet immediate needs caused by sudden, slow-onset or imminent disasters, including monitoring and evaluation.
Loans provided to Red Cross/Crescent National Societies (rather than governments) for emergency relief and start-up response to sudden, slow-onset or imminent disasters.
Longer term for serious medium-term balance of payments problems because of structural weaknesses that require time to address, the IMF can assist with the adjustment process under an Extended Fund Facility (EFF).
The Flexible Credit Line (FCL) was designed to meet the demand for crisis-prevention and crisis-mitigation lending for countries with very strong policy frameworks and track records in economic performance. This instrument was created as part of the process of reforming how the IMF lends money to countries that find themselves in a cash crunch, with the idea of tailoring its lending instruments to the diverse needs and circumstances of member countries. While none of these countries have so far drawn down on these lines, the FCL provides a valuable backstop and helps boost market confidence during the period of heightened risks.
The global financial crisis highlighted the need for effective global financial safety nets to help countries cope with adverse shocks. A key objective of recent lending reforms was to complement the traditional crisis resolution role of the IMF with more effective tools for crisis prevention. The Precautionary and Liquidity Line (PLL) is designed to flexibly meet the liquidity needs of member countries with sound economic fundamentals but with some limited remaining vulnerabilities which preclude them from using the Flexible Credit Line (FCL).
The Rapid Financing Instrument (RFI) provides rapid financial assistance to all member countries facing an urgent balance of payments need. The RFI was created as part of a broader reform to make the IMF’s financial support more flexible to address the diverse needs of member countries. The RFI has replaced the IMF’s emergency assistance policy and can be used in a wide range of circumstances.
The new SBA framework has expanded the range of high access precautionary arrangements (HAPAs), a type of insurance facility against very large potential financing needs. Precautionary arrangements are used when countries do not intend to draw on approved amounts, but retain the option to do so should they need it. In an economic crisis, countries often need financing to help them overcome their balance of payments problems. Since its creation in June 1952, the IMF’s Stand-By Arrangement (SBA) has been used time and again by member countries, and it is the IMF’s workhorse lending instrument for emerging and advanced market countries. The SBA was upgraded in 2009 along with the Fund’s broader toolkit to be more flexible and responsive to member countries’ needs. Conditions were streamlined and simplified, and more funds were made available up front. The new framework also enables broader high-access borrowing on a precautionary basis.
JICA’s contingent loan linked to a disaster.
Grants extended under this program aim at mitigating the suffering of victims of all kinds of catastrophes around the world, including in Opec Fund for International Development (OFID) Member Countries. OFID emergency aid is channeled through specialized relief agencies, such as the IFRC, UNHCR, UNOCHA and the WFP.
The Pandemic Emergency Financing Facility (PEF) – a financing mechanism housed at the World Bank – is designed to provide an additional source of financing to help the world’s poorest countries respond to cross-border, large-scale outbreaks. The PEF complements the much larger role that IDA, the World Bank’s fund for the poorest countries, and other international organizations and donors play in financing outbreak response. The PEF’s design is unique in that payments can go directly to governments and pre-approved frontline responder organizations (such as WHO & UNICEF) and it can do so through either its cash window — or once triggered through its insurance window.
Start Fund is a multi-donor pool fund managed solely by NGOs for NGOs, with delegated authority from its donors. The fund is designed to disburse rapid emergency funding within 72 hours of an alert. It covers smaller ‘under-the-radar’ emergencies which often received little or no media attention and therefore attract little or no public funding.
A contingent financing instrument (grant or loan) that provides immediate liquidity following a natural disaster. Funds become available for disbursement after the declaration of a state of emergency due to a natural disaster. Country must have a disaster risk management program in place, which the Bank will monitor on a periodic basis.
Standard loan or grant (depending on country’s circumstances) provided in addition to standard allocations when an exogenous shock occurs. The primary objective of the CRW is to provide IDA countries with additional resources that will help to respond to severe economic crises and major natural disasters and return to their long-term development paths. In case of natural disasters, the CRW targets events that are exceptionally severe. The additional CRW financing would complement UN efforts to provide emergency relief by supporting safety nets for affected populations and restoring basic physical assets that were destroyed by the disaster.
GRiF is a multi-donor trust fund (MDTF) managed and implemented by the World Bank, with initial contributions from the governments of Germany and the UK. GRiF provides grants imbedded as part of World Bank projects to pilot and scale up financial solutions that help countries be financial prepared to respond to climate shocks, disasters, and crises. World Bank projects with GRiF funds are already underway in a number of Commonwealth countries: Malawi, Mozambique, Sierra Leone, and Jamaica.