Promoting Disaster Risk Financing in Asia and the Pacific
Juswanto, Wawan; Nugroho, Suryo A. | January 2017
Many of the economies in Asia and the Pacific are vulnerable to the impacts of natural disasters, which have caused fatalities as well as economic losses to the impacted economies (Figure 1). Since 2008, there have been several major natural disasters that occurred throughout the region. The 2008 Sichuan earthquake in the People’s Republic of China (PRC) caused approximately 84,000 fatalities and also $85 billion in damages. In 2011, a powerful and devastating earthquake, with a magnitude of 9.0, struck the eastern part of Japan and caused $210 billion in overall losses as well as 15,880 fatalities (Munich Re 2015). Furthermore, in 2015, two major natural disasters occurred in the Asia and Pacific region: the first one was severe Tropical Cyclone Pam that struck Vanuatu in March, which caused approximately 16 fatalities and a total economic loss estimated at $449.4 million (Government of Vanuatu 2015). The second was the magnitude 7.6 earthquake that hit Nepal in April, causing 8,790 casualties as well as $7 billion in economic losses (National Planning Commission, Government of Nepal 2015).
CitationJuswanto, Wawan; Nugroho, Suryo A.. 2017. Promoting Disaster Risk Financing in Asia and the Pacific. © Asian Development Bank Institute. http://hdl.handle.net/11540/7413. License: CC BY 3.0 IGO.
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