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Disaster & Management

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How pandemic bonds became the world’s most controversial investment

Dec 12, 2020 | , , , , ,

Here’s how the pandemic bonds worked.

The World Bank would sell $320 million of debt to investors. In the event of a pandemic, that debt would be written off and the principal would accrue to the bank to be distributed to needy countries. Premiums were juicy – the safest slice of the offering paid 6.9% over the Libor benchmark rate, similar to returns typically found on junk-rated corporate bonds and far greater than the 2.2% available on 10-year U.S. government debt at the time. For the second tranche, which had looser triggers for a writeoff, premiums were a whopping 11.5%.

270 million people face starvation, says WFP as it receives Nobel Peace Prize

Dec 10, 2020 | , ,

“Because of so many wars, climate change, the widespread use of hunger as a political and military weapon, and a global health pandemic that makes all of that exponentially worse — 270 million people are marching toward starvation,” David Beasley said from the WFP headquarters in Rome, upon receiving the Nobel medal and diploma.

“Failure to address their needs will cause a hunger pandemic which will dwarf the impact of COVID. And if that’s not bad enough, out of that 270 million, 30 million depend on us 100% for their survival,” he added.

Prudence Foundation launches 2nd edition of its Tech Awards to find life-saving technologies for disaster resilience

Dec 8, 2020 | , , ,

Winners will have access to financial support, coaching and networking opportunities to help scale their innovative technology solutions
Since 2000, more than 40 per cent of global disaster events have taken place in the Asia Pacific region, resulting in around 800,000 deaths and affecting 3.2 billion people. This year, the COVID-19 pandemic which has infected more than 11 million people and expected to result in over $2.7 trillion in economic losses[ has magnified the importance of disaster preparedness and collaboration across all sectors in reducing the threat and impact of natural disaster events.

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