In this note, the instruments supporting risk retention and risk financing at the national and regional/international levels will be the sole focus. Risk transfer, including insurance, is a very broad subject and requires a separate discussion; however, when a hybrid solution involves a transfer...

Earthquakes, floods, cyclones, and such other hazards each year affect approximately 200 million people. Developing countries absorbed 98 percent of these disasters and accounted for nine out of ten disaster-related deaths in the period 1991-2005. In fact, low and middle income countries suffer...