In fiscal year 2021, the World Bank approved 2 new disaster risk management (DRM) projects for the East Asia and Pacific region, adding $730 million to the portfolio of 2 countries (China and the Philippines). In that same fiscal year, GFDRR provided a total of $7 million in financing to address interventions within four priority areas: 1) risk-informed decision making, 2) reducing risk and mainstreaming DRM, 3) financial preparedness to manage disaster and climate shocks, and 4) disaster preparedness and resilient recovery.