ADB is providing Technical Assistance (TA) to the Government of Myanmar to strengthen its climate and disaster resilience, including financial resilience to extreme weather events. While the Myanmar government has strengthened its policy framework for disaster risk management and climate change adaptation, there is still a need to improve its financial preparedness to manage residual disaster risk in an efficient, cost-effective and timely manner.
Being part of a larger programme, this Project contributes to raising awareness and capacity building for disaster risk financing among the private and public actors in the financial and insurance sector of Myanmar.
Since 2018, Frankfurt School experts have supported the Government of Myanmar in the development of a national disaster risk financing (DRF) strategy based on a risk-layered approach that provides a suitable blend of financing instruments and structures with a particular focus on risk transfer through insurance schemes. A review of the enabling environment and recommendations to address respective challenges on the regulatory and policy level were also included in the Project, with a particular focus
on risk transfer through insurance schemes. Lastly, the Project helped to raise awareness and build the capacity of both the Government and the private and public actors in the financial and insurance sector through detailed discussions with relevant government agencies, consultative meetings and workshops with relevant government agencies and financial institutions (banks and insurance companies) and through workshops and trainings on DRF.