This portfolio review, led by the GFDRR’s Disaster-FCV Nexus thematic area, aims to contribute to the GFDRR’s overarching objective to help low- and middle-income countries understand and reduce their vulnerability to natural hazards and climate change. More specifically, the report aims to i) assess financing trends in World Bank (WBG) Disaster Risk Management (DRM) activities in Fragility, Conflict and Violence (FCV) countries over the fiscal year (FY) period 2012–2022, ii) understand key challenges for operational teams; identify and disseminate lessons and best practices, and iii) recommend ways to inform the GFDRR’s work on the Disaster￾FCV Nexus and integrate the nexus into WBG operations. The primary audience for this portfolio review is WBG task teams and managers, but it may also interest current and possible new donors to the GFDRR.The review is informed by (i) a quantitative analysis of WBG investment projects and GFDRR grants for DRM in FCV countries for 2012–2022, (ii) a qualitative review of project documents from selected DRM operations in FCV countries, (iii) a gap analysis from in-depth interviews with Task Team Leaders (TTLs) with a range of geographical and thematic expertise. The review builds on the Independent Evaluation Group’s (IEG)1 2022 report on the WBG’s actions and funding to reduce disaster risks, including in FCV countries. This study supports Recommendation 4 of the IEG’s report which calls for country engagement and project design to respond to the related effects of disasters and FCV.