Disaster risk finance discussed

According to the catastrophe risk model, presented at the workshop, Vietnam is likely to incur on average USD 1.4 billion every year in physical damages due to floods, typhoons and earthquakes. Residential and public buildings and infrastructure would account for 65% and 11% of total damage, respectively. Provinces in the northern central region that experience higher poverty rates are more likely to face higher economic losses. At the workshop, a number of options for the government to strengthen financial resilience were discussed, concerning the finance strategy to avoid over-dependence on the state budget.