Philippines: City Disaster Insurance Pool Project
The Philippine City Disaster Insurance Pool (PCDIP) will be structured as a dedicated insurance pool to provide cities with cost-effective, parametric insurance providing near-immediate payouts for post-disaster response.
Project Details
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Project Officer
Ainabe, Benita
Southeast Asia Department
Request for information -
Country/Economy
Philippines -
Sector
- Finance
| Project Name | City Disaster Insurance Pool Project | ||||
| Project Number | 51312-001 | ||||
| Country / Economy | Philippines |
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| Project Status | Proposed | ||||
| Project Type / Modality of Assistance | Loan |
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| Source of Funding / Amount |
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| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth |
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| Drivers of Change | Governance and capacity development Knowledge solutions Partnerships |
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| Sector / Subsector | Finance / Insurance and contractual savings |
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| Gender Equity and Mainstreaming | No gender elements | ||||
| Description | The Philippine City Disaster Insurance Pool (PCDIP) will be structured as a dedicated insurance pool to provide cities with cost-effective, parametric insurance providing near-immediate payouts for post-disaster response. | ||||
| Project Rationale and Linkage to Country/Regional Strategy | The Philippines is widely regarded as one of the world's most disaster-prone countries and most likely to be economically impacted by disasters. The proposed Philippine Disaster Insurance Pool Project (PCDIP) seeks to narrow the funding gap between available funds and post-disaster response costs at local government unit (LGU) level in the event of medium-to-high severity events. PCDIP will allow the cities to become self-sustaining in managing disaster risk and protecting and rehabilitating their assets and infrastructure in the event of damage. | ||||
| Impact | Safer, adaptive and disaster resilient communities enhanced | ||||
| Outcome | Financial preparedness for disasters is improved | ||||
| Outputs | PCDIP established and made operational DRF capacity of cities increased. |
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| Geographical Location | Nation-wide | ||||
| Safeguard Categories | |
|---|---|
| Environment | FI-C |
| Involuntary Resettlement | FI-C |
| Indigenous Peoples | FI-C |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Responsible ADB Officer | Ainabe, Benita |
| Responsible ADB Department | Southeast Asia Department |
| Responsible ADB Division | Public Management, Financial Sector and Trade Division, SERD |
| Executing Agencies |
Department of Finance DOF Building Bangko Sentral ng Pilipinas Complex Roxas Blvd., Manila, Philippines |
| Timetable | |
|---|---|
| Concept Clearance | 19 Jun 2018 |
| Fact Finding | 12 Feb 2024 to 23 Feb 2024 |
| MRM | 17 May 2024 |
| Approval | - |
| Last Review Mission | - |
| Last PDS Update | 30 Mar 2021 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
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| Title | Document Type | Document Date |
|---|---|---|
| City Disaster Insurance Pool Project: Concept Paper | Concept Papers | Jun 2018 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
Tenders
No tenders for this project were found.
Contracts Awarded
No contracts awarded for this project were found
Procurement Plan
None currently available.