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Global Risk Financing Facility (GRiF)

The Global Risk Financing Facility (GRiF) pilots and scales up support to strengthen the resilience of vulnerable countries to climate and disaster shocks. GRiF activities include:

insurance premium financing
contingent financing
risk financing investments
integrating risk transfer with loans to pilot new approaches to support debt sustainability
risk financing mechanisms that promote improvements in country systems for crisis response and recovery
technical assistance and capacity building

The GRiF covers climate and disaster shocks and will eventually expand to other crises pending interest from partners.

Support provider

Governments of Germany and the UK, with support from the World Bank

Purpose of support

Project and program implementation

Eligible countries and regions

Recipients of the GRiF funds are either (i) countries with adequate capacity and government systems in place; or (ii) humanitarian and development partners where appropriate to the context.

Eligibility criteria

The ultimate recipients of the GRiF funds are either (i) countries with adequate capacity and government systems in place; or (ii) humanitarian and development partners where appropriate to the context.

Financial instruments

Contingent grants, Market-rate loans, Insurance

Co-financing requirements (if applicable)

GRiF funds can be used to scale-up other financing.

Decision-making information

GRiF will be implemented by the World Bank, Global Facility for Disaster Reduction and Recovery, and select implementing partners, with funding channeled through the World Bank and implementing partners.

Monitoring and reporting procedures

Independent impact evaluations will be included in the program design of GRiF.

Steps to access

Projects will be selected and evaluated through a transparent process. External expertise will feed into the World Bank’s internal evaluation of funding proposal.

Climate objective

Adaptation

Sectors and themes

Disaster risk reduction

Type of support provider

Multilateral

Type of recipient

Public entity at the national level, International organization

Co-financing required

Yes

Trustee or administrator

World Bank

Contact information

https://www.worldbank.org/en/topic/disasterriskmanagement/brief/global-risk-financing-facility

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Global Risk Financing Facility (GRiF)