The ASEAN platform, will build on NatCatDAX’s efforts in Thailand, Indonesia and Philippines, and extend the coverage to other countries to further enhance data availability in ASEAN. 18. Second, Risk Advisory. On the demand side, ASEAN member states have varied needs, due to differences in economic assets, population size, types of hazards and exposures faced, and the stage of development of their respective disaster risk financing strategies and markets. On the supply side, there is a wide range of disaster financing solutions such as insurance, reinsurance, index-based products, parametric covers, insurance-linked securities (ILS) and regional pools; and many solution providers, ranging from private insurance and insurance-linked securities markets, multilateral development banks, and international organisations. ADRFI can connect both sides together, and play the role of analysing countries’ needs, harnessing risk advisory expertise of stakeholders, and structuring optimal and cost effective disaster risk financing strategies under this risk advisory pillar; and 1 9 . Third, Capacity Building. This pillar will focus on enhancing knowledge of disaster risk financing strategies and solutions, and equip policy makers with a good understanding of regulatory, legal, administrative and technology pre-conditions to deploy effective disaster risk financing solutions. ASEAN Secretariat will work with knowledge partners such as the World Bank, Asian Development Bank, Insurance Development Forum 4 and the insurance industry to develop and implement a 3-year training road map to address ASEAN’s knowledge gaps. 20.

ASEAN Disaster Risk Financing and Insurance Programme Today, I am pleased to announce the official launch of Phase 2 of the ASEAN Disaster Risk Financing and Insurance Programme. ADRFI Phase 2 will be impact-focused, 11.  and targeted at strengthening ASEAN’s capabilities in ex-ante risk financing and risk transfer strategies. ADRFI Phase 2 was approved by the ASEAN Finance Ministers at the ASEAN Finance Ministers Meeting in April 2018 and the 3-year detailed Plan of Action was subsequently endorsed in April this year. 12. To drive ADRFI Phase 2 forward, the Plan of Action will be implemented by a dual programme office, to be led by the ASEAN Secretariat and the NTU-ICRM. The dual programme office will adopt an open architecture structure to support global collaboration with stakeholders including policy makers, governments, multilateral development banks, international organisations and the private sector. 13. Allow me to provide an overview of ADRFI’s 3 focus areas over the next 3 years. These are: (i) Risk Assessment, as I mentioned earlier (ii) Risk Advisory; and (iii) Capacity Building. Leveraging on their respective strengths, ICRM will lead the Risk Assessment and Risk Advisory pillars, while ASEAN Secretariat will lead the Capacity Building pillar. 14. These are upstream activities which will strengthen ASEAN’s disaster risk management capabilities, and complement the downstream public and private disaster risk financing solutions, such as the SEADRIF. Let me elaborate further on the 3 key focus areas. 1 5 . First, Risk Assessment.