Glossary
Covariate shocks
Covariate shocks are those which affect many people in the same community at once; the experience of one household is highly covariate with that of other households in the community (Jalan and Ravallion 1999).
other key terms
Other official flows (OOF)
Public funding supporting development that does not meet official aid definitions.
Official development assistance (ODA)
Public aid supporting development and welfare in eligible countries, usually on concessional terms.
Indemnity insurance
Insurance that pays based on assessed losses after damage to a specific asset.
International development financing
Public funding flows supporting development objectives in lower income countries.
Risk transfer
When disaster risk is shifted to insurers or capital markets.
Crisis
A situation where severe needs overwhelm local and national capacity to respond effectively.
