Oxfam Novib

In 2018, Oxfam distributed cash for about EUR45 million in 35 countries. In January 2019, Oxfam Novib and its partners PLAN International, Global Parametrics and local partners started the pilot B-Ready Program in the Philippines. It tests the impact of cash transfer through debit cards on the resilience of the most vulnerable people before a typhoon comes in. The forecast of the path of the typhoon and intensity is based on modelling of weather data by Global Parametrics. The availability of cash before and after a disaster is important to increase the resilience of poor people and cash transfer is a cheaper way to support them than through the regular humanitarian aid. The Red Cross estimates that for each dollar spent on disaster preparedness, an average of four dollars is saved on disaster response and recovery. Oxfam believes that financial services providers also have a role to play in forecast based finance (FbF) to support their clients and others with financial products to prepare for natural disasters. Humanitarian aid will increase in the future as natural disasters will increase in number and intensity. Preparedness reduces costs.