Drought is widely recognized as a slow creeping natural hazard that occurs as a consequence of the natural climatic variability. In recent years, concern has grown world-wide that droughts may be increasing in frequency and severity given the changing climatic conditions. Responses to droughts in most parts of the world are generally reactive in terms of crisis management and are known to be untimely, poorly coordinated and disintegrated. Consequently, the economic, social and environmental impacts of droughts have increased significantly worldwide. Because of their long-term socio-economic impacts, droughts are by far the most damaging of all natural disasters.