🌊 What if the Caribbean could unlock emergency funding before disasters strike? Every year, hurricanes, floods and droughts batter Caribbean lives and economies. Yet most funding arrives only after the damage is done. Our new working paper offers a government-led blueprint for anticipatory action finance, unlocking resources in advance of disasters to enable faster, more predictable and cost-effective responses. It proposes a practical, layered “stack” of national, regional, and insurance-based mechanisms to ensure responses are timely, predictable, and cost-effective, laying out 5 key recommendations: 1️⃣ Develop a ‘stack of financing options for anticipatory action’ and adjust national and regional funds 2️⃣ Create sustainable financing for national and regional anticipatory action windows 3️⃣ Prepare standard anticipatory action frameworks for prioritized hazards in the Caribbean 4️⃣ Pilot an anticipatory trigger for the Caribbean Catastrophe Risk Insurance Facility policies 5️⃣ Invest in the data, models, and skills that make these triggers credible By shifting from reactive disaster response to proactive preparedness, Caribbean governments and partners can safeguard communities and economies in advance, building #Resilience for the future. Read the full paper here ⬇️ https://lnkd.in/diiURPri Emily Wilkinson Vikrant Panwar ODI Global Andrea Sissa #Caribbean #AnticipatoryAction Image credit: Multiverse/shutterstock
Caribbean disaster funding: A new blueprint for anticipatory action
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