<p>This brief outlines the current PCRAFI program, phase II that builds on the initial phase of the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI), a joint initiative of the World Bank, SPC, and the Asian Development Bank with financial support from the Government of Japan, the Global Facility for Disaster Reduction and Recovery (GFDRR) and the European Union.</p>
<p>PCRAFI, launched in 2007, aimed to provide the PICs with disaster risk assessment and financing tools for enhanced disaster risk management and climate change adaptation. The PCRAFI Program (phase II) launched in April 2016 is comprised of two key pillars; (i) the PCRAFI Facility and (ii) the PCRAFI Technical Assistance Program.</p>