Capacity Building for Disaster Risk Finance

The expected impact of the TA is improved government preparedness for disaster relief and rehabilitation, and outcome is the government is better positioned and equipped to plan disaster relief and rehabilitation. The TA outputs include (i) catastrophe risk profiling of Bangladesh carried out, (ii) funding gaps for disaster response estimated, (iii) detailed design of the risk finance solutions developed, and (iv) knowledge-sharing workshops on disaster risk finance conducted.

As team leader, the specialist will:

1. Conduct an overall assessment of the financial sector (i.e., insurance, capital market, and banking) in view of introducing disaster risk finance solutions as viable risk transfer options.
2. Oversee and contribute to the development of risk profile and funding gap analysis outputs to be completed by the disaster risk profiling specialist and the public disaster risk finance specialist.
3. Conduct in-country consultation meetings and workshops to assess the degree of awareness, need, and demand for disaster risk finance among central and local government stakeholders.
4. Conduct, with the help of the public disaster risk finance specialist, feasibility assessments of various risk finance solutions, looking at the degree of alignment with medium- to long-term fiscal framework of the Government of Bangladesh, expected gains, and cost effectiveness.
5. Based on the above assessment and consultations, develop recommendations on a set of disaster risk finance solutions suitable to Bangladesh and a strategy for pursuing these solutions. Recommendations shall include, but not be limited to, capacity development needs, policy and regulatory reform requirements, partnerships, implementation modalities, and action plans. Preliminary expectations are that the recommendations could include the following risk finance solutions: (a) public finance contingency budgeting; (b) capital market-linked disaster risk finance solutions (i.e., catastrophe bonds and sovereign catastrophe insurance); and (c) disaster risk microinsurance.
6. Conduct dissemination workshops in the region and produce related knowledge products, including a summary publication outlining the proposed disaster risk finance solutions and related implementation strategy.
7. Lead the coordination and logistical arrangements for the in-country and regional workshops on disaster risk finance as well as seminars and training programs.
8. Lead the production of necessary materials for seminars and workshops and arrangements for public relations to enable effective information dissemination on disaster risk finance.
9. Supervise the production and ensure the quality of a publication on disaster risk finance to the Asian Development Bank (ADB)’s satisfaction.
10. Manage and supervise the consultant team members and ensure the quality of their outputs.