The 26th ASEAN+3 Financial Ministers’ and Central Bank Governors’ Meeting was held successfully on 2 May 2023 in Incheon, Korea.

SEADRIF and SEADRIF Insurance Company appreciate the recognition of our role as one of the important Disaster Risk Financing (DRF) initiatives for the region. It’s encouraging to see that DRF was upgraded as a regular agenda under ASEAN+3 finance track.

Extract of the joint statement:
“Increased frequency and severity of natural disasters in the region underscores the importance of strengthening our resilience against potential economic and financial losses in future occurrences. The Meeting recognizes that initiatives for DRF, including the Working Group (WG) 3 and the Southeast Asia Disaster Risk Insurance Facility (SEADRIF) with support from the ASEAN Secretariat and the World Bank, have played an important role in this regard, and welcomes the upgrading of DRF as a regular agenda under the ASEAN+3 finance track. The “2023-2025 Action Plan of the ASEAN+3 Disaster Risk Financing Initiative” was endorsed at the Meeting, which sets out the key actions to explore insurance solutions and other financial products, facilitate knowledge exchange, and develop technical solutions including a regional data repository and monitoring tool, building on the existing regional initiatives such as the ASEAN Disaster Risk Financing and Insurance (ADRFI) and SEADRIF.”

Please find the detail report on SEADRIF website: https://lnkd.in/dPfmjGSQ

Read the joint statement here