Investing in prevention and risk mitigation

It is a long-established factoid that investing $1 in preparing for crises will save you $7 responding to them.

And yet it has proven very difficult to make that shift.

The UN’s disaster risk reduction body had called for a “marker” to track DRR spending, though no specific target was set. At the World Humanitarian Summit,  the finance ministers of the Vulnerable 20 Group launched, alongside the World Bank and the UN, a new partnership to help their countries better prepare for shocks, including better access to risk analysis, contingency plans and social protection schemes.

The International Federation of the Red Cross is leading a separate coalition to mobilize one billion people to be “resilient” by 2020.

Another alliance, on urban crises, includes a focus on preparing for crises in urban settings, particularly with local municipal actors.

[IRIN]

This entry was posted in Humanitarian Aid, International Cooperation by Grant Montgomery.