| Financier | Commitments |
|---|---|
| Southeast Asia Disaster Risk Insurance Facility (SEADRIF) Pr | 12.00 |
Southeast Asia Disaster Risk Insurance Facility (SEADRIF): Strengthening Financial Resilience in Southeast Asia
Abstract*
The development objective of the Southeast Asia Disaster Risk Insurance Facility (SEADRIF): Strengthening Financial Resilience in Southeast Asia Project for East Asia and Pacific is to improve access to pre-arranged financing through market-based mechanisms for responding to disasters in Southeast Asian countries. The project comprises of three components. The first component, capitalization of the SEADRIF Insurance Company provides grant financing... Show More
Development Objective
The project development objective is to improve access to pre-arranged financing through market-based mechanisms for responding to disasters in Southeast Asian countries.
Key Details
Project Details
P170913
Active
Smita Wagh , Siegfried Zottel, Sumati Rajput
SEADRIF Insurance Company,SEADRIF Trustee
East Asia and Pacific
August 22, 2019
(as of board presentation)
September 28, 2020
November 23, 2020
US$ 12.00 million
SEADRIF Insurance Company,SEADRIF Trustee
2021
US$ 12.00 million
N/A
February 12, 2024
June 30, 2025
No
BANK APPROVED
Finances
Financing Plan (US$ Millions)
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 | 12.00 |
| Total Project Cost** | 12.00 |
Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025
No data available.
Detailed Financial Activity as of February 28, 2025
No data available.
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Financial Management | Satisfactory | 2024-02-26 |
| Progress towards achievement of PDO | Moderately Satisfactory | 2024-02-26 |
| Procurement | Satisfactory | 2024-02-26 |
| Monitoring and Evaluation | Moderately Satisfactory | 2024-02-26 |
| Project Management | Moderately Satisfactory | 2024-02-26 |
| Overall Implementation Progress (IP) | Satisfactory | 2024-02-26 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Claims paying capacity to sustain a 1-in-200 year insured loss in each financial year after allowance for the Company's reinsuranceprotection Value No Yes Yes Date June 20, 2019 December 15, 2023 September 20, 2024 Comment Products provided by the Company to the participating countries are actuarially sound and adequately account for the underlying risks and operating expenses. Value No Yes Yes Date June 20, 2019 December 15, 2023 September 20, 2024 Comment Capacity to make insurance payout within up to 30 days of the occurrence of an insured event under the first cat risk pool Value No Yes Yes Date September 11, 2019 December 15, 2023 September 20, 2024 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Adequate capitalization to allow the Company to provide the first catastrophe risk pool for the first three years Value 0.00 10000000.00 10000000.00 Date June 20, 2019 December 15, 2023 December 30, 2022 Comment Relevant functions of the Company are set up and operational Value No Yes Yes Date June 20, 2019 December 15, 2023 September 20, 2024 Comment Annual monitoring and evaluation reports Value No No Yes Date June 20, 2019 December 15, 2023 September 20, 2024 Comment The Company issues the first product to Lao PDR and Myanmar Value No Yes Yes Date June 20, 2019 January 29, 2021 December 30, 2022 Comment