Averted Disaster Award 2022 – Winner
Bangladesh Red Crescent Society
Forecast-based Financing, Bangladesh
We are proud to honor the Bangladesh Red Crescent Society as the winner of the 2022 Averted Disaster Award for their efforts in Forecast-based financing in Bangladesh!
The Bangladesh Red Crescent Society won the Averted Disaster Award for their work providing forecast-based financing to vulnerable communities during successive extreme events in Bangladesh May-July 2020. On May 20, 2020 Super Cyclone Amphan made landfall in Bangladesh. A few weeks later monsoon flooding affected Bangladesh for several weeks reaching their highest levels since 1988. 37% of Bangladesh’s landmass was flooded and affected 5.4 million people in the north, northeast and center of the country.
Forecast-based financing, an anticipatory approach implemented by the Red Crescent Society proved highly effective at averting the impacts of floods and cyclones in Bangladesh. In this approach, weather and climate forecasts are combined with risk analysis to predict when and where a hazard will strike. Once a certain trigger level (i.e. the water level in a river) is reached, a pre-agreed amount of humanitarian funding is released for a series of predefined early actions. These actions aim to save lives and minimize the hazard’s impacts.
Prior to forecast based financing, disasters such as cyclones and flooding would destroy livelihoods, forcing people to sell their livestock at low prices or take burdensome loans, perpetuating the cycle of poverty. Recipients of the funds were able to secure their homes and assets before the storm, allowing them to evacuate to shelters, reducing the number of injuries and fatalities. They were also able to buy livestock or replace fishing or farming equipment, allowing them to recover their livelihoods more quickly than those who did not receive the funds. The work of BDRCS has saved lives and increased the resiliency of communities throughout Bangladesh.
The work of BDRCS was highlighted in a short documentary film where the personal experiences of three families who have benefitted from the awarded program are narrated. Directed by award winning director, Doel Trivedy and titled “Rivers of Hope” the film aims to bring to light the life-saving benefits of anticipatory action and forecast-based financing and serve as inspiration to other communities disaster mitigation efforts.
Congratulations Bangladesh Red Crescent Society!
For more information about the Bangladesh Red Crescent Society visit BDRCS | Bangladesh Red Crescent Society