Activity 2. Rethink the Risks You have seen the maps of the Pacific Ring of Fire in the previous activity. This time let's see how our country, Philippines, is atrisk of disasters related to geologicactivities. As we are known to be resilient (flexible), we have high hopes thatour resilience could also mean preparedness at all times. What you need:
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The Second Disaster Risk Management Development Policy Loan with a Catastrophe-Deferred Drawdown Option (CAT-DDO 2) provides US$500 million to strengthen investment planning and regulations to reduce disaster risks and help manage the financial impacts when disasters strike.
"The Philippines is among the most vulnerable countries in the world. Together, the 20 most vulnerable countries face escalating losses of $44.9 billion due to climate-related natural disasters alone. Inaction is set to cost us even more. With the number set to multiply almost ten-fold by 2030, amounting to $418 billion, we turn to innovative financing mechanisms to boost our resilience,” said Finance Secretary Cesar V.
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