This portfolio review, led by the Global Facility for Disaster Reduction and Recovery's (GFDRR) 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.