This evaluation reviews the Asian Development Bank's (ADB) disaster-related projects and programmes, and explores ways to improve ADB operations in the natural disaster management cycle. The study focuses on three types of natural events – floods, storms (cyclones, typhoons) and earthquakes (including tsunami) – and evaluates them based on relevance, responsiveness and results. It is based on the recognition that the incidence and impact of natural disasters are increasing because of persistent poverty, population growth and climate change. The study calls for governments and ADB to invest more in disaster prevention, not just in infrastructure, but also in relation to social development. It states that projects and programmes should place greater emphasis on improving disaster prevention, underscoring the need for wider recognition that natural disasters are becoming endemic and that their increasing frequency and severity can undo economic and development gains.