The World Bank’s first Program-for-Results (PforR) loan in disaster risk management and resilience builds on Morocco’s regionalization reforms and its leadership on the upcoming COP22 climate conference:
Can results-based financing help countries better prepare for natural disasters? Can we use financial incentives to promote disaster prevention instead of disaster response? And how can insurance programs mitigate the financial fallout that often accompanies disasters?
In Morocco, we’ve been working with the government to pilot the World Bank’s first Program-for-Results (PforR) loan in disaster risk management and resilience. This PforR adopts a rare and integrated approach to strengthening a country’s resilience to natural disasters by:
-building institutional resilience through improved government coordination;
-building physical resilience through investment in risk reduction;
-and financial resilience through catastrophe risk insurance.
Incentives for Institutional and Physical Resilience
Over the past few years, Morocco has reformed its disaster-risk management practices by repositioning its Fonds de Lutte contre des Effets des Catastrophes Naturelles (FLCN) from a fund focused on disaster response to one focusing on disaster risk reduction…[FULL STORY]