Glossary

Risk retention

When governments retain and finance disaster costs themselves.

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This report offers an in-depth assessment of pre-arranged financing tools using seven key criteria for ensuring pre-arranged financing reduces the human and financial costs of disasters

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other key terms

Crisis protection gap

The difference between expected crisis costs and funding already arranged to cover them.

Prevention

Actions taken to avoid or reduce the impacts of future crises and hazards.

Risk layering

Using different financial instruments for different disaster frequencies.

International development financing

Public funding flows supporting development objectives in lower income countries.

Resilience

The ability to withstand shocks, adapt, recover and continue functioning over time.

Accountability

Being responsible for decisions and resources, listening to affected people, and accepting consequences for actions taken.