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Fund to Fund 70% of Projects to Enhance Resilience Against Natural Hazards
Akhtar reiterated the government's full commitment to the NDRMF and the provision of additional resources to strengthen the fund's operations.
PHOTO: EXPRESS
ISLAMABAD: The Federal Minister of Finance, Revenue and Economic Affairs, Statistics, Planning, Development and Reform, Dr. Shamshad Akhtar, called the National Management Fund the disaster risk (NDRMF) Pakistan's resilience, against natural disasters and the impacts of climate change.
She expressed these views during the inaugural session at the NDRMF launch ceremony held Monday morning in Islamabad. Notable representatives of the federal and provincial governments and disaster management authorities, UN agencies, international donors, academia, civil society, NGOs, media and dignitaries participated in the event. event. In recent years, affecting more than 30 million people, the Minister of Finance has stressed the need to establish a sustainable financing system to fund risk reduction and mitigation activities in the country. Akhtar reiterated the government's full commitment to the NDRMF and the provision of additional resources to strengthen the fund's operations.
"The Government will also ensure that the Fund operates effectively, transparently and in a coordinated manner" integrate its efforts for a coherent and institutionalized DRM approach among federal, provincial and local institutions
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Meanwhile, NDRMF CEO, Lt General (retired) Nadeem Ahmed, during his speech welcome, provided an overview of the mandate, operations, thematic areas and links to the National Disaster Management Plan (NDMP) and the National Flood Protection Plan (NFPP-IV). He also informed about the mechanism designed to support its operational activities in order to minimize its impact on the national chessboard.
It should be noted that NDMP and NFPP-IV have been developed by national and international experts to dilute the effects of disasters by strengthening the DRM system and building protection infrastructure. However, due to lack of funding, these plans could not be implemented.
Also addressing the ceremony, Country Director, ADB Xiaohong Yang, praised Pakistan for its unique capabilities in managing a diverse range of disasters. better country in terms of knowledge, regulatory framework and DRM infrastructure to implement this pilot idea. It also committed to providing $ 1 billion in additional funding for this initiative in the years 2020 to 2030.
The government was working with a number of development partners to identify opportunities and mechanisms to improve financial management of disaster risks. These initiatives resulted in the creation of multi-donor NDRMFs. It is a state-owned non-profit corporation with a corporate structure, incorporated in the Securities and Exchange Commission of Pakistan, under Article 42 of the Ordinance on Companies of 1984. The fund will also help to reduce the socio-economic and fiscal impacts. Initial NDRMF funding is provided by an ADB loan to the Government of Pakistan of $ 200.0 million and grants of $ 3.4 million and $ 1.5 million from the Governments of Australia and Switzerland, respectively. The government has made these funds available to the NDRMF in the form of a grant, for the purpose of awarding grants to eligible implementing partners in the public and private sectors. The NDRMF will fund up to 70% of eligible project costs that will enhance Pakistan's resilience to extreme weather and other natural hazards.
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The NDRMF will focus on projects based on thematic areas identified under two broad documents that are NDMP and NFPP-IV. These projects are related to the assessment of multi-risk vulnerability risks, the development of emergency response plans, the strengthening of the early warning system and the development of projects. infrastructure for disaster risk reduction and modernization of flood protection infrastructure. In addition to risk reduction activities, the NDRMF will also work on the risk transfer mechanism system by developing a DRF strategy and conducting a pilot project, which could be extended to the national level
. and national commitments such as the Hyogo Framework, the Paris Agreement, the Sendai Framework, Vision 2025 and the Sustainable Development Goals (SDGs).
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