Insurance
Home›Insurance›Property Insurance›Nepal approves World Bank mandate for earthquake cat b…
Nepal approves World Bank mandate for earthquake cat bond project
The mandate agreement advances a proposed three-year, parametric earthquake catastrophe bond that targets US$80 million to US$190 million in fully collateralized capital markets funding.
Nepal’s Council of Ministers has approved signing a Mandate Agreement for the Nepal Earthquake Catastrophe Bond project with the World Bank, according to reports from Nepalese news sources cited by Artemis.
Artemis said the World Bank began work in July on a parametric earthquake catastrophe bond for Nepal, designed to deliver disaster risk financing from the capital markets.
The proposed structure would include design, structuring, and issuance of a three-year parametric catastrophe bond, targeting between US$80 million and up to US$190 million of fully collateralized disaster risk financing.
Artemis added that the World Bank would intermediate the transaction and support its design, delivery, and impact assessment, noting that government approval marks a formal step toward progressing the project.