Glossary
Development bank
Financial institution that offers financing (typically in the form of loans and grants) and complementary technical assistance, tied to explicit development objectives (Centre for Disaster Protection).
other key terms
Disaster risk management
Policies and actions to reduce disaster risks, manage impacts and strengthen resilience.
Risk profile
Underlying risks that an organisation or country is exposed to and the extent to which they are mitigated by pre-arranged finance.
Risk retention
When governments retain and finance disaster costs themselves.
Covariate shocks
Shocks affecting many households at once where losses are shared across the same community.
Risk layering
Using different financial instruments for different disaster frequencies.
Other official flows (OOF)
Public funding supporting development that does not meet official aid definitions.
