This desk review presents an initiative which aims at reducing Central Asia and the Caucasus (CAC)'s vulnerability to the risk of disasters, in line with the Hyogo Framework for Action 2005-2015 (HFA).

It analyses disaster risks at the country, sub-regional and regional levels. It also analyses trans-boundary disaster risks and their effects; analyses projected losses in the absence of mitigation measures; and reviews and analyses climate change assessment, hazard risk management status of CAC countries, regional and international initiatives, population growth and migration patterns, economic and physical developments, and urban expansion and rural development. Risk assessments for all the countries have been prepared and regional issues and potential areas of co-operation are addressed.

It incorporates three focus areas: (i) coordination of disaster mitigation, preparedness and response; (ii) financing of disaster losses, reconstruction and recovery, and disaster risk transfer instruments such as catastrophe insurance and weather derivatives, and (iii) hydro-meteorological forecasting, data sharing and early warning.

The study review is an initiative of the World Bank and the United Nations International Strategy for Disaster Reduction (UNISDR) − in partnership with other international bodies such as (for hydrometeorology) the World Meteorological Organization (WMO) and under the umbrella of the Central Asia Regional Economic Cooperation (CAREC) programme; and was developed through funding by the Global Facility for Disaster Reduction and Recovery (GFDRR), which mandate is to help developing countries reduce their vulnerability to natural hazards. (Source: CAC DRMI, 2009.)