National Disaster Risk Management Fund first step towards resilience against natural disasters, climate change: Dr Shamshad Akhtar
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The government had been working with a number of development partners to identify opportunities and mechanism to enhance financial management of disaster risk. These initiatives resulted in the establishment of multi-donor National Disaster Risk Management Fund (NDRMF). It is a government-owned not-for-profit company with a corporate structure, incorporated with the Securities and Exchange Commission of Pakistan (SECP), under Section 42 of the Companies Ordinance 1984. The fund will also provide support in reducing the socio-economic and fiscal vulnerability of the country and its population due to natural hazards and climate change. Channelising financial investments in DRR and preparedness segment of DM will have high positive economic impacts for the country.
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NDRMF will finance up to 70 per cent of eligible projects cost that shall enhance Pakistan’s resilience to extreme weather events and other natural hazards.
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NDRMF will be focusing on projects based on thematic areas identified under two umbrella documents that are NDMP and NFPP-IV. These projects are related to Multi-Hazard Vulnerability Risk Assessment (MHVRA), Community Based Disaster Risk Management (CBDRM), development of emergency response plans, strengthening early warning system and infrastructure development for disaster risk reduction and retrofitting of flood protection infrastructure. Apart from risk reduction activities, NDRMF will also be working on the risk transfer mechanism system by devising a Disaster Risk Financing (DRF) strategy and conducting a pilot project, which could be scaled up at a national level.
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