Glossary

Annual Report

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A Year in Review is the Centre’s first published annual report. It details our progress and the challenges we’ve encountered, and showcases our impact.

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other key terms

Crisis

A situation where severe needs overwhelm local and national capacity to respond effectively.

Parametric insurance

Insurance that pays when an agreed indicator reaches a set level, not actual losses.

Sovereign insurance

Sovereign insurance is insurance coverage purchased by a national government to protect its budget against the financial impacts of disasters.

Climate resilient debt clause or 'debt pause clause'

A provision in sovereign debt contracts that enables the borrower to temporarily stop repaying debt service for a pre-agreed period when a predefined event occurs.

Cost multiple

The cost multiple measures the average amount a government pays to receive USD 1 of payout from a financing instrument over its lifetime.

International premium support

Premium support is international funding to pay for insurance premiums.