The World Bank on Friday launched a new $150 million fund intended to help insure vulnerable countries against natural disasters and the increasing risk of climate change-linked crises.The announcement follows a string of recent natural disasters across the world including record storms and a series of deadly quakes in Indonesia, where the Bank and International Monetary Fund are currently meeting.
The so-called Global Risk Financing Facility (GRiF), set up with money from Germany and Britain, will finance the creation of disaster insurance and other risk mechanisms so funds are available immediately when crises hit
The so-called Global Risk Financing Facility (GRiF), set up with money from Germany and Britain, will finance the creation of disaster insurance and other risk mechanisms so funds are available immediately when crises hit
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