Disaster risk finance in action: saving lives, protecting livelihoods, and empowering governments

The objective of this event is to demonstrate the impact of disaster risk finance solutions financed by the Global Shield Financing Facility (GSFF). Some of these solutions were initiated under the prior program (the Global Risk Financing Facility), and cumulatively the programs have mobilized US$4bn in prearranged funds for natural disasters and crises, and protection has been provided to over 4mn people. Of note is the focus of the program on addressing financial liquidity constraints that governments experience, scaling adaptive social protection to protect lives and livelihoods, and a focus on ensuring robust banking sectors that can continue to support SMEs and MSMEs post-shock so they stay in business and people can keep their jobs. A new focus area of the facility includes identifying mutually reinforcing links between nature positive investments and disaster risk finance.

The event will be a moderated panel discussion, which will include country representatives, development partner representatives, private sector, and academic organizations.

Expected outcomes include more awareness about the importance of disaster risk finance especially in the context of the evolving global landscape with new emerging initiatives such as the Fund for Responding to Loss and Damage. Offer challenges and lessons learned from implementing GSFF programs, particularly highlighting the importance of country-led approaches, the value of scaling existing initiatives, and the importance of using grant finance to influence larger development resources channeled towards reducing and addressing the financial impacts from disasters.