The Asia and Pacific region has seen tremendous economic and social progress since the 1960s. Yet, the region remains vulnerable to disaster risk that threatens its hard-won gains. Over the years, developing Asia has endured a growing number of disasters triggered by natural hazards. As a result, numerous lives, livelihoods, and communities have been damaged or lost. The coronavirus disease (COVID-19) pandemic is testament to the debilitating effects of such a disaster on people, businesses, and economies. Indeed, in 2020, developing Asia suffered its first economic contraction in 6 decades. Now more than ever, the region must find ways to reduce its vulnerability to hazards and build economic resilience.