The ASEAN+3 finance and central bank deputies' meeting held in Hong Kong in November 2025 reaffirmed strong regional commitment to strengthening Disaster Risk Financing (DRF) as climate and disaster risks continue to rise across Southeast Asia.
Against the backdrop of ongoing floods and landslides in several countries in the ASEAN region, deputies underscored the urgency of scaling practical and effective financial protection solutions. A key focus of the meeting was progress on two flagship initiatives—the SEADRIF-SAFE Facility, which integrates insurance into public infrastructure financing, and the SEADRIF-RAISE Facility, designed to expand access to agricultural insurance through improved data and regional risk-sharing. Deputies also welcomed advances on the ASEAN+3 DRF Roadmap 2026-2028 and approved the extension of SEADRIF’s interim role as the DRFI Secretariat, reinforcing momentum toward stronger regional coordination and long-term disaster preparedness.
A central focus of the meeting was the progress on two flagship regional initiatives: the SEADRIF–SAFE (Sovereign Asset and Fiscal Empowerment) Facility and the SEADRIF–RAISE (Regional Agricultural Insurance and Sustainable Economies) Facility.
SAFE, championed by the Philippines, is being designed to embed insurance protection into public infrastructure projects financed by development partners and sovereign lenders. RAISE, co-developed by SEADRIF and the UN Food and Agriculture Organization, aims to expand access to affordable agricultural risk transfer solutions through stronger data systems, analytics, and regional reinsurance capacity.
Deputies recognised both initiatives as timely and essential responses to rising fiscal exposure across the region, particularly in agriculture and critical infrastructure, and reaffirmed strong support for continued regional collaboration to advance their development.