Nepal and World Bank Launch Catastrophe Bond Partnership for Earthquake Risk
The Nepalese government and the World Bank have agreed to evaluate the development of a catastrophe bond to provide rapid financing in the event of a major earthquake.
Nepal and the World Bank have signed a mandate agreement to explore the possibility of developing a catastrophe bond to provide rapid funding to the country in the event of a major earthquake.
Scope of the Partnership
Nepal and the World Bank have come together to evaluate how capital markets can support the country's disaster risk management strategy in the face of potential disasters.
Financial Protection Against Earthquake Risk
As one of the countries most at risk of disasters in the world, Nepal is focusing on financial protection measures to prepare for future natural disasters and strengthen recovery processes.
Feasibility and Structure of the Bond
Within the framework of the signed agreement, the World Bank Group Treasury will examine the feasibility and potential structure of this financial transaction together with the Government of Nepal and market participants.