Skip to Main Navigation

Pacific catastrophe risk insurance pilot program

Development Objective

The project development objective is to ascertain the viability of market-based sovereign catastrophe risk transfer instruments to reduce the financial vulnerability to natural disasters (earthquakes and tropical cyclones) of Republic of Marshall Islands, Independent State of Samoa, Kingdom of Tonga, and Republic of Vanuatu.  This will be achieved by providing additional finance to allow participating countries to join the third season of the Pacific catastrophe risk insurance pilot and purchase catastrophe risk coverage against earthquake and/or tropical cyclone events for the 2014-2015 pilot period.

Key Details

Project Details

  • P133255

  • Closed

  • Olivier Mahul

  • Ministry of Finance,Ministry of Finance and Economic Management,Ministry of Finance,Ministry of Finance and National Planning

  • Pacific Islands

  • November 9, 2012

  • (as of board presentation)

    November 9, 2012

  • November 23, 2012

  • US$ 3.00 million

  • World Bank Group Treasury

  • East Asia and Pacific

  • 2013

  • US$ 3.00 million

  • C

  • August 15, 2024

  • January 31, 2016

  • BANK APPROVED

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
Disaster Risk Financing and Insurance 3.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment N/A
IDA Commitment N/A
IBRD + IDA Commitment N/A
Lending Instrument
Grant Amount 3.00
Total Project Cost** 3.00

Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025

Download:
No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of February 28, 2025

Download:
No data available.
Period Financier Transaction Type Amount (US$)

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Overall Implementation Progress (IP) Highly Satisfactory 2015-02-09
Counterpart Funding Highly Satisfactory 2015-02-09
Financial Management Satisfactory 2015-02-09
Monitoring and Evaluation Highly Satisfactory 2015-02-09
Project Management Satisfactory 2015-02-09
Progress towards achievement of PDO Highly Satisfactory 2015-02-09
Procurement Satisfactory 2015-02-09

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • Direct project beneficiariesValue0.005000.000.00
    DateJanuary 17, 2013January 30, 2015October 31, 2015
    Comment
  • Female beneficiariesValue0.0060.000.00
    DateJanuary 17, 2013January 30, 2015October 31, 2015
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Aggregate coverage limit of Pacific catastrophe risk insurance programValue0.0043300000.000.00
    DateJanuary 17, 2013January 30, 2015October 31, 2015
    Comment
  • Individual coverage limit for each participating PICValue0.0043300000.000.00
    DateJanuary 17, 2013January 30, 2015October 31, 2015
    Comment
  • Cook Islands aggregate coverage limitValue0.002800000.000.00
    DateJanuary 17, 2013January 30, 2015October 31, 2015
    Comment
  • Marshall Islands aggregate coverage limitValue0.0010900000.000.00
    DateJanuary 17, 2013January 30, 2015October 31, 2015
    Comment
  • Samoa aggregate coverage limitValue0.0011300000.000.00
    DateJanuary 17, 2013January 30, 2015October 31, 2015
    Comment
  • Tonga aggregate coverage limitValue0.008400000.000.00
    DateJanuary 17, 2013January 30, 2015October 31, 2015
    Comment
  • Vanuatu aggregate coverage limitValue0.009900000.000.00
    DateJanuary 17, 2013January 30, 2015October 31, 2015
    Comment