Catalog of Learning Activities

WBI Program: Urban
Activity Title: Financial Strategies for Managing the Economic Impacts of Natural Disasters, Online Course : Philippines
Activity ID: URD10-00-119
 

Contact Info

Task Manager: Katalin Demeter
Email: KDemeter@worldbank.org
Task Admin: Berna Yekeler
Email: byekeler@worldbank.org

Date and Cost

Start Date: November 16 2009
End Date: December 13 2009
Cost: No Fees

Description

Global economic losses due to natural disasters are growing. Both direct and insured losses have increased at a faster rate than the number of events, revealing that the same hazard on average is causing larger damages. If disaster impacts are not anticipated and planned for, the diversion of scarce resources to relief and reconstruction efforts can have high opportunity costs in terms of economic development and welfare. Pro-active risk management entails the incorporation of loss mitigation and financing measures into development planning. Besides the macroeconomic effects on economic growth and development, disasters often place intractable burdens on poor households and small businesses. Who pays for catastrophic losses? Who owns the risk? These questions should be addressed by policymakers. Financial Strategies for Reducing the Economic Impacts of Natural Disasters is part of the Comprehensive Natural Disaster Risk Management Program developed by the World Bank Institute with support from the WB Hazard Management Unit and ProVention Consortium. The course focuses on financial, macroeconomic and development impacts of disasters, trade-offs (costs and benefits) involved in disaster risk management, and offers strategies for reducing the impacts of natural disasters. The course offers financing strategies for risk management. The course provides policy makers and disaster managers with tools and institutional designs for improved planning and budgeting processes, and national macroeconomic projections. An important question posed in this course is: under what conditions is it advisable for the public authorities to insure roads, bridges and other infrastructure, and when should they rely on traditional post-disaster financing? In answering this question, the course compares alternative financing options for public-sector risks and examines their costs and benefits. Another core question is the extent to which public authorities do and should take financial responsibility for risks to households and businesses. In addressing this question, this course examines strategies for public-private national insurance programs.

Objective

To provide policymakers with tools for financial risk management for assets belonging to households, businesses and the public sector. On the macroeconomic level, it provides a methodology for assessing the risks to public infrastructure and the effects of natural disasters on economic growth.

Topic(s)

Urban Development

Participants

Audience: This specialization course targets officials from finance ministries, planning organizations, public work agencies in order to improve the planning and budgeting processes, and macroeconomic projections.

Target Country(s): Philippines

Partners: EMI

Site Information

Delivery Modes: Electronic Learning (40 Hours)
Locations: Philippines
 Languages: English