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High-level dialogue on international cooperation for financing DRR scaling

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October 13, 2021 United Nations Office on Disaster Risk Reduction, Regional Office for Arab States, organized a commemoration of International Day for Disaster Risk Reduction this year by organizing a special session at the UN Center at Expo 2020 Dubai.

The hearing was held under the title High Level Dialogue on International Cooperation for Financing Scaling for DRR: Build Better and brought together disaster risk reduction stakeholders to discuss collaborations, challenges and steps forward towards realizing the agreed policy agenda in 2015 when the Sendai Framework, the 2030 Agenda for Sustainable Development, the Paris Agreement was adopted or developed. and other important frameworks.

The session discussed the perspective until 2030, explored the necessary actions and discussed the current state of DRR funding, the challenges and opportunities to increase DRR funding globally, and the development of plans and recommendations to increase DRR funding.

Mami Mizutori, Special Representative of the UN Secretary-General for Disaster Risk Reduction and Head of UNDRR, Dr. Dena Assaf, UN Resident Coordinator in the United Arab Emirates, Ibrahima Cheikh Diong, Assistant Secretary-General of the United Nations and Director-General of the African Risk Capacity Group, Senator Adel EL-Lamei, Member of Parliament in Egypt, Dr. Mahmoud Al Burai, President of ARISE UAE, Dr. James Anthony Morse, Academic President of the Rabdan Academy, and Sujit Mohanty Head of UNDRR, Regional Office for Arab States, joined the session as panelists.

“There is a need for scalable and urgent funding to reduce disaster risk, which is urgent in developing countries,” Mizutori said. UNDRR calls for urgent action to strengthen international co-operation to make optimal use of limited resources and to provide more technical assistance for self-reliance.

Throughout the session, panelists highlighted the urgent need for funding in developing countries, which require about $ 70 billion to meet their adjustment plans. But the figure could reach $ 300 billion by 2030, and $ 500 billion by 2050, according to the latest edition of the UN Adaptation Gap report, published in January 2021.

The trend for disaster-related funding has been on the rise since 2010; however, it is calculated primarily from the activities undertaken after the events and not from prevention and preparedness.

The session came to raise awareness of the importance of funding for disaster risk reduction, to highlight the importance of international cooperation and multilateralism in addressing planetary emergencies, to identify the important role of financial institutions in increasing funding for DRR, and to raise awareness of the role of international cooperation and public-private discourse to promote behavior change and behavior towards disaster risk management.

Key facts and figures

Disaster Risk Reduction Funding

  • Disaster risk reduction funding accounts for a small portion of overall development assistance investments.
  • $ 133 billion in DRR funding was made available between 2010-2019: that’s 11 percent of total aid ($ 1.17 trillion).
  • Of that, only $ 5.5 billion was intended to reduce pre-disaster risk, compared to $ 119.8 billion spent on disaster response.
  • Of the total aid funding between 2010-2019, $ 5.5 billion spent on DRR accounts for only 0.5% of the total amount spent on international aid.
  • For every $ 100 spent on development aid, only 50 cents is invested to protect that aid from the effects of disasters.

Investing in risk reduction and building resilience saves more than life and livelihoods, it is also a good return on investment.

  • Every US $ 1 invested in risk reduction and prevention can save up to US $ 15 in post-disaster recovery. (UNDRR)
  • Every US $ 1 invested to make disaster-resistant infrastructure saves US $ 4 through fewer outages and reduced economic impacts. (World Bank)
  • Spending $ 800 million on early warning systems in developing countries would avoid losses of $ 316 billion a year.

More on International Day for Disaster Risk Reduction: The 2021 Sendai Seven Campaign https://iddrr.undrr.org/

Sources

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2/ https://www.undrr.org/news/high-level-dialogue-international-cooperation-scaleup-financing-drr-financing-disaster-risk

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