The pilot Executive Education Program on Disaster Risk Financing and Training of Trainers tailored for World Bank Group (WBG) staff was delivered from February 5 to 8, 2024 by the WBG’s Crisis and Disaster Risk Finance team in collaboration with the Global Shield Financing Facility (GSFF) and the McCourt School of Public Policy at Georgetown University. The four-day program was attended by 38 senior task team leaders and WBG staff at the historic Georgetown University campus. It encompassed 15+ sessions on technical and operational knowledge pertaining to Disaster Risk Financing (DRF), soft skills sessions that were planned in collaboration with Georgetown University faculty, and sharing of best practices in risk transfer and insurance in collaboration with Insurance Development Forum (IDF).

Oliver Mahul (Practice Manager, Disaster Risk Financing and Insurance Program, Finance, Competitiveness and Innovation Global Practice, WBG) welcomed participants, emphasising the need for and importance of such a training program.

On Day 1, participants delved into the fundamentals of DRF, developed a deeper understanding of financial instruments, and engaged enthusiastically in a game of “Master the Disaster. This simulated game provided a hands-on opportunity for participants to work through trade-offs during a disaster. In collaboration with Insurance Development Forum (IDF)), as part of the WBG-IDF Knowledge partnership, an engaging knowledge exchange session was held, wherein speakers from Swiss Re Management (US) Corporation and Aon Public sector covered lessons on risk transfer and insurance from the private sector.

Day 2 involved a deep dive into the financial protection of public assets, DRF in agriculture, importance of data and analytics, and role of gender in DRF. Participants were also introduced to GSFF and the Risk Finance Umbrella (RFU) Program as potential vehicles to support WBG operations focusing on improving the financial resilience of countries.

Day 3 opened with a session that showcased the WBG’s crisis response toolkit and was co-delivered by members from Treasury of the WBG. The Dean of McCourt School of Public Policy, Maria Cancian, welcomed the group and shared her enthusiasm in collaborating with the WBG. Academic sessions were conducted by world-renowned experts on various topics. In his presentation, Professor Kent Weaver introduced the topic of stakeholder mapping and influencing and conducted an engaging simulation to provide the necessary framework. Professor Robert Traynham shared his expertise on stakeholder communication and Professor Andreas Kern gave participants key insights into “Climate Change and Greening of Global Financial Systems”, discussing recent advances in the field.

The final day included an in-depth session by Professor Rachel Milner Gillers on negotiation strategies demonstrated through roleplay. As part of the Training of Trainers program, participants had the opportunity to design their own versions of a standardized DRF program. Informal presentations were held, wherein participants showcased their DRF program plans.

Participant feedback underscored the training's efficacy, as 97% of the participants rated it “Excellent” or “Very Good.” 95% of the participants found the training to be relevant to their operations and 100% participants requested a repeat.

To learn more about Disaster Risk Finance, please visit Financial Protection Forum.

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For more information, please write to Kaavya Ashok Krishna (kaashokkrishna@worldbank.org) or drfip@worldbankgroup.org.