WTW announces USAID funding for transformative climate finance solution to scale up adaptation investment in vulnerable countries
With USAID funding, WTW will design a pilot facility enabling the U.S. Development Finance Corporation (DFC) to offer a parametric insurance solution (Resilience Wrapper) that protects its direct loans to private enterprises from climate-related shocks.
- With USAID funding, WTW will design a pilot facility enabling the U.S. Development Finance Corporation (DFC) to offer a parametric insurance solution (Resilience Wrapper) that protects its direct loans to private enterprises from climate-related shocks.
- Following a triggering event (such as a cyclone, flood, or drought), the subsequent loan repayment will be covered by the insurance payout.
- In support of the President’s Emergency Plan for Adaptation and Resilience (PREPARE), the short-term catalytic funding was awarded through the USAID Climate Finance for Development Accelerator’s Adaptation Finance Window initiative.
- I commend WTW's leadership in this area as it signals both the need and the opportunity for greater private investment in resilience.”