Typhoon-Lashed Philippines Taps Catastrophe Bonds
- World Bank helped get up to $225 million of disaster insurance
- Philippines is among the world’s most calamity-prone nations
Floodin in Manila in August.
Photographer: Lito Borras/Getty Images
This article is for subscribers only.
Follow Bloomberg on LINE messenger for all the business news and analysis you need.
The Philippines, among the world’s most disaster-prone nations, sold its maiden foreign-currency catastrophe-linked bonds to help cover costs of major calamities, in conjunction with the World Bank.