Protect the Greatest Home of All: Our Countries
SEADRIF is a regional platform that provides participating nations with advisory and financial services to increase preparedness, resilience and cooperation in response to climate and disaster risks. By increasing pre-disaster planning and post-disaster relief and reconstruction funding, SEADRIF protects people and their livelihoods, and contributes to ongoing economic development and poverty reduction.
The Joint Statement of The 21st ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting4 May 2018, Manila, Philippines
We reaffirm our commitment to increase the financial resilience of ASEAN+3 members to climate and disaster risks. We welcome the agreement to establish a regional catastrophe risk insurance pool for Lao PDR and Myanmar as the first product of the Southeast Asia Disaster Risk Insurance Facility (SEADRIF), with support from Japan, Singapore and the World Bank. We also recognize that Cambodia may join the regional catastrophe risk insurance pool, subject to the result of the feasibility studies. We acknowledge that SEADRIF, which will be domiciled in Singapore, aims to provide climate and disaster risk management and insurance solutions to ASEAN member states, and helps to narrow the natural catastrophe protection gap within the region. We welcome the ASEAN Disaster Risk Financing and Insurance Program (ADRFI) to work and collaborate with SEADRIF on some issues, including data assessment and modeling, and capacity building. We invite other ASEAN+3 members to join the SEADRIF, and encourage donor partners beyond ASEAN+3 to support this initiative.