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The World Bank And Natural Catastrophe Funding
by Rodney Lester
The World Bank (the Bank) is one of the major financiers of post-disaster reconstruction with 101 loans having been approved in the last 20 years for a sum in excess of $US7.4 billion. The Bank is also a major lender for practices of risk mitigation. However, this is heavily concentrated in a few large developing countries. While natural disaster risk management is not high on the Bank's explicit agenda it is implicit in two of the Bank's main development themes; namely private sector development and poverty reduction.
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