Glossary

Early warning system

An integrated system of hazard monitoring, forecasting and prediction, disaster risk assessment, communication and preparedness activities systems and processes that enables individuals, communities, governments, businesses and others to take timely action to reduce disaster risks in advance of hazardous events (UNDRR n.d.).

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This report examines how governments across Burkina Faso, Chad, Mali, Mauritania and Senegal can better plan and budget for disasters before they strike,

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The study puts forward six lessons and 12 recommendations for donors interested in supporting this agenda.

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This brief reviews the evidence on the welfare impacts of proactive approaches to setting up finance for disaster response.

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Practical guidance on contingency planning a before a disaster strikes to support a faster, more coordinated, and ultimately, more effective response.

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other key terms

Disaster risk management

Policies and actions to reduce disaster risks, manage impacts and strengthen resilience.

Sovereign insurance

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

Covariate shocks

Shocks affecting many households at once where losses are shared across the same community.

International development financing

Public funding flows supporting development objectives in lower income countries.

Risk layering

Using different financial instruments for different disaster frequencies.

Pre-arranged financing

Financing approved before crises that is released automatically when agreed triggers are met.