(Reuters) - The poorest and most vulnerable countries do not benefit enough from pre-arranged financing to cope with disasters and are most exposed to the losses and damage caused by climate change, the London-based Centre for Disaster Protection said on Thursday.

 

Pre-arranged financing (PAF) represents money borrowed by the issuer from capital markets, in the form of contingent credit, regional risk pools and catastrophe bonds, to be used if a specific event has taken place.