World Development Report 2014 Risk and Opportunity : Managing Risk for Development at Cordaid, The Hague.

February 11, 2014, The Hague, Netherlands --  Dutch NGO Cordaid hosted a presentation of the World Development Report 2014 Risk and Opportunity : Managing Risk for Development at its offices in the Hague.   Following a presentation by Rasmus Heltberg, one of the World Bank's lead authors of the report, panelists Simone Filippini, CEO of Cordaid, Jelte van Wieren, Head of Humanitarian Aid and Reconstruction at the Netherlands Ministry of Foreign Affairs, and Herbert Schilthuis, Director Global Health Affairs, Heineken, shared their views on the reports' recommendations and their own experience managing risk in both the public and private sectors.  The discussion looked at all areas of risk from financial, to natural disaster to health risks to political and household level risks and focused on the need for proper incentives to ensure that risk management is imbedded in planning processes.  Participants, representing Dutch civil society, government, and academia provided examples of successful risk management, such as community-driven disaster risk reduction programs in Africa and some of the Netherlands own practices in water and flood management.   

More information on the Cordaid website note on presentation.

The latest World Development Report (WDR), Risk and Opportunity: Managing Risk for Development, analyzes risk at many levels and forms and is rich with examples, ranging from job loss and disease to financial crises and natural disasters—often highlighting the costly consequences of mismanaged risk.  The 147 banking crises that have struck 116 countries in the past 40 years, for instance, have led to large declines in output and employment.

Poor people in developing countries tend to be hit the hardest by risks because the resources they have to manage risks are often meager or non-existent. More people die from drought in Africa than any other natural hazard whereas virtually no one has died from drought in developed countries in the past four decades. Without improved risk management, the fight to end poverty will be even more elusive, says the report.  

A key message from the WDR 2014 is that risk management can be a powerful tool for development and has the potential to bring about security and future prosperity to people in the developing world. Effective risk management approaches can not only protect the poor – they can also unlock opportunities for better development outcomes. For example, farmers in Ghana and India – among other countries – who have rainfall insurance have increased their investments in fertilizer, seeds, and other inputs.