The paper focuses on financing andinstitutional arrangements for dzud. It seeks to encourage amore coordinated, predictable, timely and targeted approachto dzud on the part of both the Government of Mongolia (GoM)and its development partners, based on an analysis of the2009-2010 dzud response efforts. The paper also explores thescope for a shift in emphasis from ex post responsetriggered by wide scale loss of livestock to a system thathas sufficient ex ante resources and capabilities to supportmuch earlier interventions, thereby helping to avert highlevels of loss. The response efforts were insufficientlytimely as well, reflecting difficulties in predicting thedzud's severity and, then, subsequent capacity andfunding constraints. In consequence, certain windows ofopportunity to alleviate potential impacts were missed.Moreover, there was a strong bias towards support for thelivestock sector, particularly during the earlier stages ofthe crisis, to the detriment of human needs. There waslimited loss of human life but even some of these lossescould have been averted. Meanwhile, the dzud responseefforts are unlikely to have prevented an increase in theincidence of poverty.