Financial Risk and Opportunities to Build Resilience in Europe

Financial Risk and Opportunities to Build Resilience in Europe

This report presents an analysis conducted by the World Bank to assess macro-fiscal impacts of earthquakes and floods in European Union (EU) Member States (MS), analyze the financial instruments in place to manage this risk and identify any associa...

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Main Author: World Bank
Format: Report
Language:English
Published: World Bank, Washington, DC 2021
Subjects:
DISASTER RISK MANAGEMENT
CATASTROPHE BOND
DISASTER RISK FINANCE
MACRO-FISCAL ANALYSIS
PUBLIC FINANCE
Online Access:http://documents.worldbank.org/curated/en/231121622437102944/Economics-for-Disaster-Prevention-and-Preparedness-Financial-Risk-and-Opportunities-to-Build-Resilience-in-Europe
http://hdl.handle.net/10986/35685
id okr-10986-35685
recordtype oai_dc
spelling okr-10986-356852021-09-16T15:28:24Z Financial Risk and Opportunities to Build Resilience in Europe World Bank DISASTER RISK MANAGEMENT CATASTROPHE BOND DISASTER RISK FINANCE MACRO-FISCAL ANALYSIS PUBLIC FINANCE This report presents an analysis conducted by the World Bank to assess macro-fiscal impacts of earthquakes and floods in European Union (EU) Member States (MS), analyze the financial instruments in place to manage this risk and identify any associated funding gaps. The analysis is underpinned by the outputs of two regionally consistent probabilistic catastrophe risk models, one developed by JBA Risk Management (JBA) for fluvial and surface water flood, and one by the Global Earthquake Model Foundation (GEM) for seismic risk. The report provides, (i) an indication of future losses for each country; (ii) an indication of each countries funding gap based upon the information available on national and EU level financial instruments; and (iii) options for consideration to strengthen financial resilience at the EU and the national level. Overall, this report finds that financial instruments to manage disaster risk are limited in most of the countries and at the EU level, despite the devastating impacts disasters pose to welfare, fiscal balance, and more broadly the economy. 2021-06-07T19:40:59Z 2021-06-07T19:40:59Z 2021 Report http://documents.worldbank.org/curated/en/231121622437102944/Economics-for-Disaster-Prevention-and-Preparedness-Financial-Risk-and-Opportunities-to-Build-Resilience-in-Europe http://hdl.handle.net/10986/35685 English Economics for Disaster Prevention and Preparedness; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Other Financial Sector Study Europe and Central Asia
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic DISASTER RISK MANAGEMENT
CATASTROPHE BOND
DISASTER RISK FINANCE
MACRO-FISCAL ANALYSIS
PUBLIC FINANCE
spellingShingle DISASTER RISK MANAGEMENT
CATASTROPHE BOND
DISASTER RISK FINANCE
MACRO-FISCAL ANALYSIS
PUBLIC FINANCE
World Bank
Financial Risk and Opportunities to Build Resilience in Europe
geographic_facet Europe and Central Asia
relation Economics for Disaster Prevention and Preparedness;
description This report presents an analysis conducted by the World Bank to assess macro-fiscal impacts of earthquakes and floods in European Union (EU) Member States (MS), analyze the financial instruments in place to manage this risk and identify any associated funding gaps. The analysis is underpinned by the outputs of two regionally consistent probabilistic catastrophe risk models, one developed by JBA Risk Management (JBA) for fluvial and surface water flood, and one by the Global Earthquake Model Foundation (GEM) for seismic risk. The report provides, (i) an indication of future losses for each country; (ii) an indication of each countries funding gap based upon the information available on national and EU level financial instruments; and (iii) options for consideration to strengthen financial resilience at the EU and the national level. Overall, this report finds that financial instruments to manage disaster risk are limited in most of the countries and at the EU level, despite the devastating impacts disasters pose to welfare, fiscal balance, and more broadly the economy.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Financial Risk and Opportunities to Build Resilience in Europe
title_short Financial Risk and Opportunities to Build Resilience in Europe
title_full Financial Risk and Opportunities to Build Resilience in Europe
title_fullStr Financial Risk and Opportunities to Build Resilience in Europe
title_full_unstemmed Financial Risk and Opportunities to Build Resilience in Europe
title_sort financial risk and opportunities to build resilience in europe
publisher World Bank, Washington, DC
publishDate 2021
url http://documents.worldbank.org/curated/en/231121622437102944/Economics-for-Disaster-Prevention-and-Preparedness-Financial-Risk-and-Opportunities-to-Build-Resilience-in-Europe
http://hdl.handle.net/10986/35685
_version_ 1764483570228789248

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