Forecast Based Financing to provide pre alerts and financing ahead of natrual disasters in Malawi

Red Cross Society; Malawi-Belgian-Netherlands-Danish/Malawi/2018. A feasability study to assess the potential for the use of 'Forecast Based Financing' to provide pre alerts and financing ahead of natrual disasters in Malawi. This study is a pilot project and one of the components of the ECHO 'Enhancing Resilience in Malawi (ERIM)' project. It is undertaken by the consortium comprising Malawian, Belgian, Netherlands and Danish Red Cross Societies. The ERIM project period is 18 months. Forecast-based Financing (FbF) is a mechanism that uses climate and weather forecasts to trigger timely humanitarian action, before a hazard hits the exposed population. These actions are automatically funded when the triggering forecast is released. This mechanism has been progressively developed since 2008. Several pilot projects are on-going, which are contributing to build evidence about the potential to transform the current humanitarian system. Lessons, best practices and recommendations from these projects are the basis for the development of a solid Forecast-based Financing knowledge management strategy. ECHO/-SF/BUD/2017/91013