Workshop Explores New Insurance Instruments to Strengthen PRC’s Flood Resilience Format BEIJING, PEOPLE’S REPUBLIC OF CHINA (12 May 2021) — Different financial instruments to increase disaster resilience in the People’s Republic of China (PRC) were the focus of discussions at a workshop today in Beijing. The workshop on Enhancing Financial Resilience to Disasters was hosted by the Asian Development Bank (ADB), jointly with the Ministry of Finance and National Development and Reform Commission of the PRC on a day that also marks the country’s National Day of Disaster Prevention and Reduction. It brought together experts to disseminate international best practices on disaster risk financing and explore opportunities for innovative operations in the PRC. Participants discussed the case for a possible parametric insurance facility to deal with flood risks, specifically in the Yangtze River basin.