Capacity building workshop on financing for disaster risk reduction
From 24 to 27 September 2024, UNDRR hosted a Capacity Building Workshop on Financing Disaster Risk Reduction (DRR) at its Global Education and Training Institute (GETI) in Songdo, Republic of Korea.
This workshop provided technical support to government officials from 14 countries, helping them to develop national financing frameworks that foster DRR investments.
Participants also learned how to assess investment gaps and mobilize various public, private, and international sources of financing.
The capacity building workshop was structured around the following 5-step approach put forward by UNDRR to develop comprehensive financial strategies for DRR.
Participants also benefited during the workshop from the expertise of several partner organizations:
- Coalition for Disaster Resilient Infrastructure (CDRI) shared experience in developing a pipeline of resilient infrastructure projects
- Centre for Disaster Protection and GIZ (Global Shield) explained diverse pre-arranged finance mechanisms to transfer financial risks.
- Asian Development Bank (ADB), International Monetary Fund (IMF), and the Green Climate Fund (GCF) presented their financing mechanisms to finance projects related to climate adaptation and disaster risk reduction.
As we continue to face the increasing challenges posed by climate change and other hazards, the importance of robust financial frameworks and comprehensive DRR financing strategies cannot be overstated.
However, this also underscores the ongoing need for capacity-building initiatives to better equip countries to address these issues effectively.