The World Development Report 2014 makes a strong case for responsible and effective risk management.
The World Development Report 2014 makes a strong case for responsible and effective risk management.


The World Development Report 2014, titled "Risk and Opportunity: Managing Risk for Development," makes a strong case for responsible and effective risk management. It argues that managing risks in an integrated and forward-looking manner, can save lives, avert economic damages, prevent development setbacks, and unleash opportunities. While “risks” can generally refer to any adverse shock from epidemics to social conflicts and economic crises, this message certainly also has strong implications for disaster risk management: in the face of increasingly frequent disasters (such as earthquakes, storms, or floods), prevention, preparation and recovery efforts by governments, communities, and individuals have become increasingly essential. Effective risk management can provide both resilience to withstand adverse natural events and the ability to take advantage of development opportunities, argues the report, which includes contributions from GFDRR. Therefore, according to the WDR 2014, proactive risk management is a critical ingredient in the fight to end poverty.