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Asia's bridges and piers to be insured against disasters

Singapore, Japan and World Bank team to protect infrastructure

A view of a bridge that collapsed in Bali, Indonesia in 2016. The new insurance aims to offer protection for such Asian infrastructure.    © Reuters

TOKYO -- The Japanese and Singaporean governments with the World Bank are setting up an insurance scheme as early as spring against natural disasters in Asian countries, as climate change raises the risk for catastrophic cyclones and flooding.

Myanmar and Laos will be the first countries to buy the insurance. They will pay a combined $20 million to cover damage to bridges, piers and other public infrastructure caused by a natural disaster. Cambodia is considering joining the framework as well.

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