Strengthening financial resilience in the Pacific

This brief is part of a series highlighting the World Bank's achievements in disaster risk management initiatives. The brief presents the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI), formed in 2007 in response to requests from 15 countries to help mitigate disaster and climate change risk. Under the initiative, the first regional Catastrophe Risk Insurance Pilot (the pilot program) was formed, which is significantly helping post-disaster response in the Cook Islands, Marshall Islands, Samoa, Tonga, and Vanuatu.