SINGAPORE, Aug. 1 -- Nanyang Technological University, Singapore (NTU Singapore) and the ASEAN Secretariat teamed up to launch a three-year disaster risk reduction plan that aims to strengthen the financial resiliency of ASEAN member states when natural disasters strike.
The ASEAN Disaster Risk Financing and Insurance Phase 2 (ADRFI-2) 'plan of action' will equip Member States with risk management and risk transfer capabilities that will enable them to overcome financial burdens caused by disasters.
Riding on the success of the first phase, the new plan is anchored around three strategic pillars namely, Risk Data (risk information and assessment), Capacity Building on Disaster Risk Financing, and Risk Advisory.
Mr Nadhavudh Dhamasiri, Di...