The Asia-Pacific Economic Cooperation (Apec) member-economies will develop a road map for expanding the coverage of microinsurance and disaster-risk finance in a bid to mitigate the impact of natural disasters particularly on micro, small and medium enterprises (MSMEs).
Finance Undersecretary Gil S. Beltran, in an international forum on trade financing, said the creation of the road map and network of experts through the support of Asia-Pacific Financial Forum (APFF) is among the deliverables of the Cebu Action Plan (CAP).
These initiatives are in line with a goal of deepening insurance penetration and developing risk sharing measures.
Source: Business Mirror
BIIA Comment: As part of the Cebu Action Plan (CAP) APCEC/ABAC formed the Financial Infrastructure Development Network (FIDN). BIIA is a participant in the FIDN network. See our most recent post.