PCRIC Team Engages Vanuatu on Post-Earthquake Recovery Support

The PCRIC team, led by Monitoring & Evaluation Specialist Mr. Sai Too Go and Finance Officer Ms. Ranadi Tuimoala, travelled to Vanuatu to meet with the Department of Finance and Treasury and the National Disaster Management Office (NDMO).

Engaging the Director, Deputy Director, and Acting Director of NDMO, the team delivered a comprehensive briefing on PCRIC’s mission to bolster recovery efforts following the December 2024 earthquake in Port Vila.

Vanuatu, a valued member of PCRIC’s Council of Members and policyholder, received a US $1.2 million payout after the earthquake, triggered by its parametric insurance policy renewed on 1st November 2024. This rapid financial support enabled critical relief measures, underscoring PCRIC’s role in safeguarding Pacific nations against climate and disaster risks.

The mission focused on supporting Vanuatu’s recovery through targeted objectives. Discussions with the Department of Finance and Treasury covered emergency response strategies and post-earthquake relief efforts. The team provided technical assistance to staff, aiding the drafting of a Utilization Report for the payout.

Consultations with both the Department and NDMO assessed the payout’s impact, gathering testimonials to highlight its significance. Opportunities for process improvements in payout utilization were also identified to enhance future responses. This country mission strengthened PCRIC’s partnership with Vanuatu, ensuring financial tools deliver tangible outcomes.