The Post-Disaster Recovery and Reconstruction Working Groups and the Strategy Working Group are technical advisory bodies accountable to the Management Committee and representing the wider group of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”) donors. Both working groups are regional-based bodies, chaired by the Global Bank Group, with the host Government participation.

For the background details of the Post-Disaster Recovery and Reconstruction Working Groups and the Strategy Working Group are provided in the Management and Organisation Section of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund Website.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are

The DRRRF Standing Committee on Finance was created by the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”) with the aim of assisting the DRRRF, with regards to, for example, transparency, efficiency, and effectiveness in the delivery of climate finance. Furthermore, the DRRRF Standing Committee on Finance is designed to improve the linkages and to promote the coordination with climate finance related actors and initiatives within and outside the DRRRF.

The DRRRF Standing Committee on Finance consists of up to twenty members who work together to assist the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund with regards to the Financial Mechanism of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund. Currently, DRRRF Standing Committee on Finance has been assigned four specific functions by the DRRRF Steering Committee to allow it to meet its goal. Firstly, the DRRRF Standing Committee on Finance has the function of assisting the DRRRF to improve coherence and coordination in the delivery of climate change financing. Secondly, the DRRRF Standing Committee on Finance has the function of working to assist the DRRRF in a rationalization of the Financial Mechanism of the Global Bank Disaster Risk Reduction and Reconstruction Fund. The third function of the DRRRF Standing Committee on Finance is to support the DRRRF in the mobilization of financial resources for climate financing. Finally, the fourth function is to support the Global Bank Disaster Risk Reduction and Reconstruction Fund in the measurement, reporting, and verification of support provided to developing country.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are

Immediate Needs Funding (INF) is money earmarked for the most urgent work in the initial aftermath of a disaster. The funds may be provided to any eligible applicant for eligible emergency work that must be performed immediately and paid for within the first 60 days following approval by the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”). Eligible work typically includes debris removal, emergency protective measures, and removal of health and safety hazards. Immediate needs funds can be used for expenses resulting from this eligible work, such as temporary labor costs, overtime payroll, equipment, and material fees.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”) international cooperation encompasses various means of implementation in addition to financial support. Technical cooperation, capacity building, and technology transfer are as instrumental to disaster risk reduction as financing. The emphasis of the DRRRF on science makes technical cooperation, technology transfer, and exchange of experts particularly important.

International cooperation and global partnership is critical to disaster reduction and to post-disaster reconstruction and recovery, and derives directly from the guiding principles enshrined in the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund as all States, particularly developing countries need support to strengthen their capacity to prevent and reduce disaster risk, support that needs to contribute to and complement national efforts.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund fosters coordinated, sustained, and adequate international support. The DRRRF is developing ways and means to incorporate disaster risk reduction measures into development assistance programs within and across all sectors. In this context, the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund and Global Bank and other Global Bank Group entities and agencies have a critical role to play through the provision of risk-informed financial support and loans which support the Global Bank Group’s integrated vision of disaster risk management across sectors and the full engagement of institutions and stakeholders.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are

Given that disaster risk is on the rise, the continued strengthening of normative frameworks for early warning and disaster response remains of primary importance. Various dimensions would need to be taken into account, such accessibility, multi‐hazard, and multi-sector approach, attribution of powers and resources for local action.

Early warning and preparedness systems have the potential to significantly reduce the loss of life and livelihoods from disasters, simultaneously building resilience and supporting the achievement of the Sustainable Development Goals (SDGs). The DRRRF’s work in this area supports countries with comprehensive multi-hazard early warning systems, as well as the development of medium and long-term forecasting capacities.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund supports a variety of disaster risk reduction programmes to prevent or minimize damage caused by disasters through early warning systems, disaster preparedness, and mitigation efforts, as well as training for disaster response.

Many the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund programmes improve collection and use of data on disaster risks, including building capacity and infrastructure to observe, analyze, and forecast hazards. These may include mapping hazards, developing people-centered early warning systems, and facilitating the exchange of information on risks. The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund also supports the development of information-sharing systems and services, which may involve strengthening networks and promoting dialogue and cooperation among scientific communities and practitioners.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund funds training and learning programs at a community level, for local authorities, and for targeted sectors. Preparedness for response addresses the need to plan for events where managing the risk proves too costly or not feasible. This area of programming directly links disaster risk reduction with disaster management and recovery. In this vein, the DRRRF works to strengthen policy; build technical and institutional capacities; support dialogue, information exchange, coordination and stakeholder engagement; stockpile commodities that may be needed in response; and review and update disaster preparedness and contingency plans.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund” or “GB DRRRF”) recognises the need for and gives priority to planning for recovery, rehabilitation and reconstruction ahead of disasters. Such initiatives require the engagement of executive and legislative institutions and stakeholders at local and national levels in light of the socio, economic, and political complexities and the coordination requirements. Normative provisions which anticipate and regulate recovery, rehabilitation and reconstruction through a “Build Back Better” approach are essential.

Through Track I, the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund works to enhance global and regional advocacy to promote the implementation of the Sendai Framework targets by 2030 in partnership with the United Nations and other international organizations. Through advocacy and continuous engagement with key regional organizations, the partnership will help to elevate disaster risk management (DRM) as a key priority for policy-makers, governments and practitioners, thereby building demand for more targeted country disaster risk management programs, particularly in high-risk, low and middle-income countries.

Climate change has become one of the world’s foremost policy challenges. In line with its mandate and expertise, the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund together with Global Bank focuses on the humanitarian, fiscal, financial, and macroeconomic challenges. The DRRRF also advises (e.g., through technical assistance to member countries) on the appropriate design of resilient infrastructure development, carbon pricing and fiscal reforms to promote greener growth more broadly, particularly with regard to getting prices right in energy and transportation systems to reflect environmental costs and building resilience to climate risks.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund” or “GB DRRRF”) emphasis is to manage the underlying drivers of disaster risk through enhancing understanding of disaster risk, governance for disaster risk reduction, investment and measures to strengthen resilience, and preparing for recovery, rehabilitation and reconstruction.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – Umbrella Trust Fund priority areas are:

• Priority 1: Understanding Disaster Risk: Understanding disaster risk in its extent and genesis, including its drivers, is particularly critical to the DRRRF in light of the major shift in emphasis on risk present in the expected outcome, and, accordingly, the need to manage risk in and of itself.

• Priority 2: Disaster Risk Governance: The DRRRF works to strengthen disaster risk reduction governance in its institutional and participatory aspects at national and local levels. While restating the mainstreaming and integration of disaster risk reduction across all sectors, it puts forward a renewed paradigm to achieve it.

• Priority 3: Investing in Resilience: Priority area III of the DRRRF is particularly dependent on strong coordination and coherence in the development and implementation of sector policies and programs as well as the implementation of international instruments such as those concerning sustainable development, climate change and variability, and financing. The DRRRF makes a strong call for investing more resources in resilience and ensuring that risk-informed investments be made by both the public and the private sectors, and that disaster risk reduction considerations and measures be integrated into financial and fiscal instruments.

• Priority 4: Preparedness to “Build Back Better”:  Priority area IV of the DRRRF represents an important mix of continuity and innovation. The continuity aspect of the DRRRF is focused on the need to further improve preparedness for response, including through a renewed commitment toward early warning systems, which be multi‐hazards and multi‐sectoral, and the preservation of the functioning of critical infrastructures for the continued provision of essential services. It also includes the anticipation of “cascading disasters,” i.e., disasters which are magnified by multiple, sequential and interconnected hazards. Attention is also given to evacuation and displacement.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrtf.org/about-us/who-we-are

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund”, “GB DRRRF” or “DRRRF”) is working to build resilience in vulnerable communities around the globe. The DRRRF is a multi-donor partnership and grant-making financing mechanism. Its purpose is mainstreaming climate change to help achieve the Sendai Framework for Disaster Risk Reduction 2015-2030 - a decade-long plan to help make the world safer from disasters caused by natural hazards — and to support the implementation of the Global Climate Agreement in Paris, and prevent disasters undermining progress on the Sustainable Development Goals. The Sendai Framework for Disaster Risk Reduction 2015-2030 (SFDRR), was adopted at the Third UN World Conference on Disaster Risk Reduction (WCDRR), held on March 14-18, 2015 in Sendai, Japan, and will guide action on disaster risk reduction worldwide for the next 15 years.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund supports countries around the world in mainstreaming a comprehensive and integrated approach to disaster risk management (DRM) into development. The DRRRF was established in October 20017, as a Global Bank Group-supported partnership of donor and recipient countries and international organizations to further reduce the risks from natural disasters and promote international and regional cooperation and to lessen the vulnerability of developed and developing countries alike. The DRRRF supports on-the-ground technical assistance to help developed, and developing countries integrate disaster risk management (DRM) and climate change adaptation into development strategies, policies and investment programs, including post-disaster recovery and reconstruction.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund disaster risk management activities are part of a comprehensive framework. This framework focuses on five core areas of risk management and systematically addressing each core area: risk identification, risk reduction, emergency preparedness, financial protection, and sustainable recovery and reconstruction.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are

Since the adoption of the Hyogo Framework for Action in 2005, as documented in national and regional progress reports on its implementation as well as in other global reports, progress has been achieved in reducing disaster risk at local, national, regional and global levels by countries and other relevant stakeholders, leading to a decrease in mortality in the case of some hazards.   Reducing disaster risk is a cost-effective investment in preventing future losses. Effective disaster risk management contributes to sustainable development. Countries have enhanced their capacities in disaster risk management.  International mechanisms for strategic advice, coordination and partnership development for disaster risk reduction, such as the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”), as well as other relevant international and regional forums for cooperation such as the Global Bank Atlantic Reconstruction Trust Fund (GBARTF), have been instrumental in the development of policies and strategies and the advancement of knowledge and mutual learning.  Overall, the Hyogo Framework for Action has been an important instrument for raising public and institutional awareness, generating political commitment and focusing and catalysing actions by a wide range of stakeholders at all levels.

Over the same ten-year time frame, however, disasters have continued to exact a heavy toll and, as a result, the well-being and safety of persons, communities, and countries as a whole have been affected. Over 700 thousand people have lost their lives, over 1.4 million have been injured and approximately 23 million have been made homeless as a result of disasters. Overall, more than 1.5 billion people have been affected by disasters in various ways, with women, children and people in vulnerable situations disproportionately affected. The total economic loss was more than $1.3 trillion. In addition, between 2008 and 2012, 144 million people were displaced by disasters.

Disasters, many of which are exacerbated by climate change and which are increasing in frequency and intensity, significantly impede progress towards sustainable development. Evidence indicates that exposure of persons and assets in all countries has increased faster than vulnerability has decreased, thus generating new risks and a steady rise in disaster-related losses, with a significant economic, social, health, cultural and environmental impact in the short, medium and long-term, especially at the local and community levels. Recurring small-scale disasters and slow-onset disasters particularly affect communities, households and small and medium-sized enterprises, constituting a high percentage of all losses. All countries – especially developing countries, where the mortality and economic losses from disasters are disproportionately higher – are faced with increasing levels of possible hidden costs and challenges in order to meet financial and other obligations.

The Global Bank Disaster Reduction and Reconstruction Fund – An Umbrella Trust Fund climate action will be driven by client demand, focusing on those activities that support the Global Bank’s core mission and build on its comparative advantage. The actions proposed a focus on supporting client demand, recognizing that client needs are different. The Action Plan focuses on supporting the Global Bank Group core mission of supporting the economic and social development efforts of the less developed and developing countries as they seek achievement of internationally agreed upon development goals, including those contained in the Millennium Declaration and the Sustainable Development Goals, and to implement the recommendations of major United Nations conferences and summits. The goals lay out a blueprint for the Global Bank Group, setting its priorities and measuring its results. And it builds on the Global Bank Group comparative advantage to tackle complex, multisectoral problems in an integrated way combining all of its instruments (funding, knowledge, and convening power), its local presence, but global reach and experience, its deep technical expertise and multisectoral integration, and its ability to work across both the public and private sectors.

A comparative detail analysis of the Global Bank Disaster Reduction and Reconstruction Fund – An Umbrella Trust Fund is available upon request.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are

Natural and human-induced disasters adversely affect hundreds of millions of people every year. In an effort to minimize the impact on vulnerable populations, the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund”, “GB DRRRF” or “DRRRF”) supports various disaster risk reduction (DRR) programs aimed at saving lives; protecting livelihoods, assets, and infrastructure before, during, and after a disaster; and increasing communities’ resilience to natural hazards. The DRRRF programs promote self-sufficiency in disaster risk reduction by strengthening the capacity of governments at all levels and communities to identify, manage, and reduce the impacts of natural disasters through sustainable, multi-sectoral programs, as well as to prepare for and respond to potential crises in a timely and efficient manner.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund and implementing partners engage communities, national and local governments, international and regional organizations, and non-governmental organizations (NGOs) to develop effective disaster risk reduction strategies tailored to the needs of at-risk populations. The DRRRF promotes dialogue and coordinated action among stakeholders to address disaster risk reduction in an integrated and comprehensive manner. In addition to supporting regional and country-level programming related to floods, droughts, cyclones, extreme weather events, tsunamis, earthquakes, and volcanoes, the DRRRF provides technical assistance and supports global disaster risk reduction initiatives. These initiatives will reduce vulnerability to natural hazards affecting the community or household, as well as build the resilience of the community.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund is among the global leaders in supporting worldwide disaster risk reduction activities, as well as participates in larger Global Bank Group efforts. The DRRRF participates in disaster risk reduction globally through membership on governing boards, influencing the development of sound disaster risk reduction policies among key partners, such as U.N. humanitarian agencies. In addition, the DRRRF disaster risk reduction and sectoral experts contribute to the development of technical guidelines and provided technical expertise to host nations on disaster risk reduction.

Many countries face a wide range of challenges and constraints in their efforts to reduce disaster vulnerability. The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund is implementing activities in various sectors to assist in preparedness for and reduction of disasters worldwide, including agriculture and food security, health, nutrition, economic recovery and market systems, protection, shelter and settlements, and water, sanitation, and hygiene (WASH). The DRRRF’s efforts focus on reducing the impact of natural hazards in vulnerable regions by enhancing local and regional early warning systems; improving local disaster planning and response, including search and rescue activities; strengthening conceptual and implementation models for improving food security; and building the capacity of international and local partners to reduce countries’ vulnerability to disasters.

Each of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund disaster risk reduction program promotes at least one of the five priorities identified by the Hyogo Framework for Action (HFA). Those are:

• PRIORITY 1 – Ensure that disaster risk reduction is a national and a local priority with a strong institutional basis for implementation.

• PRIORITY 2 – Identify, assess, and monitor disaster risks and enhance early warning.

• PRIORITY 3 – Use knowledge, innovation, and education to build a culture of safety and resilience at all levels.

• PRIORITY 4 – Reduce underlying risk factors.

• PRIORITY 5 – Strengthen disaster preparedness for effective response at all levels.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”) was established in 2017 by the Global Bank Group (the “Bank Group”) to facilitate the implementation of the International Strategy for Disaster Reduction (ISDR). It was created to be the focal point in the Global Bank Group for the coordination of disaster risk reduction and ensures synergies among the relevant activities of Global Bank Group agencies and Funds and Programmes, and related activities in socio-economic and humanitarian fields.

The purpose of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund is mainstreaming climate change to help achieve the Sendai Framework for Disaster Risk Reduction 2015-2030 - a decade-long plan to help make the world safer from disasters caused by natural hazards — and to support the implementation of the Global Climate Agreement in Paris, and prevent disasters undermining progress on the Sustainable Development Goals. The Sendai Framework for Disaster Risk Reduction 2015-2030 (SFDRR), was adopted at the Third United Nations World Conference on Disaster Risk Reduction (WCDRR), held on March 14-18, 2015 in Sendai, Japan, and will guide action on disaster risk reduction worldwide for the next 15 years.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are

The sponsor of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF” or “DRRRF”) is the Global Bank.

Owned by the Global Bank Group¹, the Bank for International Development and Reconstruction, known as the Global Bank borrows in the international capital markets (“BIDR,” “Global Bank,” or “Bank”) is the Global Bank Group’s long-term sovereign lending institution. As a development bank with an agenda driven by G-7/G-8 and G-20-priorities, its leading priority is to promote global economic and social development. Unlike the multilateral development banks (MDBs)², Global Bank is not restricted to operating only in developing countries.

For interesting facts about the G-7/G-8 and G20:

The Bank for International Development and Reconstruction is a full-fledged private sector global development bank, in formation, – the world’s second global development bank – positioned next to the World Bank and the preeminent regional development banks (MDBs).

The Bank for International Development and Reconstruction was founded in 2013 to help developed, and developing countries achieve economic and social development through financing primarily public sector (sovereign) infrastructure projects and sustainable development. BIDR is one of five institutions that make up the Global Bank Group. BIDR is the part of the Global Bank Group that works with creditworthy countries to promote sustainable, equitable and job-creating growth, reduce poverty and address issues of regional and global importance.

Global Bank’s main goals are to end poverty and hunger and to achieve sustainable development in its three dimensions through promoting inclusive economic growth, protecting the environment, and promoting social inclusion.

The Global Bank’s activities are focused on developing countries, in fields such as human development (e.g. education, health), agriculture and rural development (e.g. irrigation and rural services), environmental protection (e.g., pollution reduction, establishing and enforcing regulations), infrastructure (e.g. roads, urban regeneration, and electricity), large industrial construction projects, and governance (e.g. anti-corruption, institutions development).

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For more information about the Global Bank, what we do and how we do it, please go to the About Us Section of the Global Bank Website at http://www.global-bank.org

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”) goal is to prevent new, and reduce existing, disaster risk through the implementation of integrated and inclusive economic, structural, legal, social, health, cultural, educational, environmental, technological, political and institutional measures that prevent and reduce hazard exposure and vulnerability to disaster, increase preparedness for response and recovery, and thus strengthen resilience.

To support the assessment of global progress in achieving the outcome and goal of the present Framework, seven global targets have been agreed. These targets will be measured at the global level and will be complemented by work to develop appropriate indicators. National targets and indicators will contribute to the achievement of the outcome and goal of the present Framework. The seven global targets are:

The seven global targets are:

• Substantially reduce global disaster mortality by 2030, aiming to contribute to lower the average per 100,000 global mortality rate in the decade 2020–2030 compared to the period 2005–2015;

• Substantially reduce the number of affected people globally by 2030, aiming to contribute to lower the average global figure per 100,000 in the decade 2020–2030 compared to the period 2005–2015;

• Reduce direct disaster economic loss in relation to global gross domestic product (GDP) by 2030;

• Substantially reduce disaster damage to critical infrastructure and disruption of basic services, among them health and educational facilities, including through developing their resilience by 2030;

• Substantially increase the number of countries with national and local disaster risk reduction strategies by 2020;

• Substantially enhance international cooperation to developing countries through adequate and sustainable support to complement their national actions for implementation of the present Framework by 2030;

• Substantially increase the availability of and access to multi-hazard early warning systems and disaster risk information and assessments to people by 2030.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”) established in October 2017, as a Global Bank Group-supported partnership of donor and recipient countries and international organizations. Created to reduce the risks from natural disasters and promote international and regional cooperation to lessen the vulnerability of developed and developing countries alike, the DRRRF supports on-the-ground technical assistance to help developed and developing countries integrate disaster risk management (DRM) and climate change adaptation into development strategies, policies and investment programs, including post-disaster recovery and reconstruction.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund is working to build resilience in vulnerable communities around the globe. The DRRRF is a multi-donor partnership and grant-making financing mechanism. Its purpose is mainstreaming climate change to help achieve the goals of the Sendai Framework for Disaster Risk Reduction 2015-2030 - a decade-long plan to help make the world safer from disasters caused by natural hazards — and to support the implementation of the Global Climate Agreement in Paris, and prevent disasters undermining progress on the Sustainable Development Goals. The Sendai Framework for Disaster Risk Reduction 2015-2030 (SFDRR), was adopted at the Third UN World Conference on Disaster Risk Reduction (WCDRR), held on March 14-18, 2015 in Sendai, Japan, and will guide action on disaster risk reduction worldwide for the next 15 years.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund has three main business lines to achieve its development objectives at the global, regional and country levels.

• Track 1: Global and regional support to ISDR System: The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”) is a committed member of the ISDR system. Together with the ISDR Secretariat, we are formulating a results-oriented work program. This track will support global advocacy, knowledge sharing, support development of information management tools and disseminate and exchange emerging notions of best practice facilitated through global and regional organizations under the International Strategy for Disaster Reduction (ISDR) System.

• Track 2: Support to countries for developing investment frameworks for disaster risk prevention and mitigation: This track will operate through a multi-donor trust fund and support efforts by developing country governments to enhance investments in risk reduction. Developing a policy option to deal with risks including long-term climate change issues will be made integral to a long-term and sustainable development strategy.¹ Countries prone to high disaster risks will be the primary clients. Specific country plans, particularly the Poverty Reduction Strategies (PRSs) and Country Assistance Strategies (CASs) will ensure ownership, and implementation follow through.

• Track 3: Standby Recovery Financing Facility (SRFF): (in pipeline) This Standby Recovery Financing track, proposed to be operated through a mechanism linked to the Global Fund for International Development and Reconstruction (GFIDR), is to support disaster-stricken countries’ immediate recovery needs before medium and long-term recovery programs are formulated and launched. However, a low-income country would be eligible for this only if pre-disaster preparedness and mitigation instruments (Track 2) have been institutionalized in the country, measured in terms of investments in risk reduction as a percentage of GDP or such others measures agreed by the partners of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund. This is being developed in close collaboration with Global Bank’s DRRRF team, and a position paper on this will be available soon for wider consultation.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit gbdrrrf.org/about-us/who-we-are

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”) supports priorities for action outlined in the Sendai Framework for Disaster Risk Reduction 2015-2030, as well as contribute to achievement of the Sustainable Development Goals and the Paris Agreement. The DRRRF Will:
 

• Promoting open access to risk information: The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund utilizes cutting-edge science and technology to create robust disaster risk information that is openly available and easily understandable by all actors responsible for managing disaster and climate risk. Moreover, DRRRF supports communities to map their exposure to disasters and climate change, ensuring that their voice and knowledge is part of the resilience solution.

• Promoting resilient infrastructure: Public and private investment in disaster risk prevention and reduction through structural and non-structural measures are essential to enhance the economic, social, health and cultural resilience of persons, communities, countries and their assets, as well as the environment. These can be drivers of innovation, growth and job creation. Such measures are cost-effective and instrumental to save lives, prevent and reduce losses and ensure effective recovery and rehabilitation. The objective of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund in infrastructure is to improve alignment and coordination between established and new infrastructure initiatives as well as among multilateral and national development banks, national  institutions and the private sector in order to bridge the ‘infrastructure investment gap’ and to facilitate the implementation of sustainable, accessible and resilient infrastructure for all State, particularly for developing countries.

• Deepening financial protection: Disaster risk finance aims to improve the ability of governments to clarify and meet obligations arising from shocks caused by disasters while minimizing threats to development progress and fiscal stability.  Increasingly, governments seek to meet this objective and manage the financial impact of disasters triggered by natural hazards in a comprehensive and strategic way. The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust is working to mobilize financial resources to assist States, in particular developing countries in implementing the goals of the Sendai Framework for Disaster Risk Reduction 2015-2030, including other international instruments, such as the 2030 Agenda for Sustainable Development and its Sustainable Development Goals, as well as the Paris Agreement on climate change.
   

• Building resilience at the community level: Over the past 20 years, typhoons, floods, droughts, earthquakes and other natural hazards have claimed 1.35 million lives and affected on average 218 million people per year. They also have devastating effects on socio-economic development with a global economic impact since 2005 surpassing USD 1.3 trillion, mostly in developing countries. If better preparedness planning was in place, time, money and lives could have been saved. The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund to prevent new and reduce existing disaster risk through the implementation of integrated and inclusive economic, structural, legal, social, health, cultural, educational, environmental, technological, political and institutional measures that prevent and reduce hazard exposure and vulnerability to disaster, increase preparedness for response and recovery, and thus strengthen resilience.

• Deepening engagements in resilience to climate change: Promoting and enhancing action on the development and transfer of environmentally sound technologies to States, in particular developing countries is critical to supporting action on mitigation of greenhouse gases and adaptation to the adverse effects of climate change. Accelerating, encouraging and enabling innovation is critical for an effective, long-term global response to climate change and promoting economic growth and sustainable development. Such effort, as appropriate, is supported by the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund, including by the Technology Mechanism and, through financial means, by the Financial Mechanism, for collaborative approaches to research and development, and facilitating access to technology, in particular for early stages of the technology cycle, to States, in particular developing countries.

• Enabling resilient recovery: In the face of apparently insurmountable odds, Global Bank Group (the “Bank Group”) has found ways to rebuild smarter, stronger, safer and faster. We are successful because, before disaster strikes, we have already laid the groundwork by fortifying the Bank Group’s physical, digital, financial, and societal infrastructure in an effort to better mitigate and manage post-crisis reconstruction.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund is mobilising large-scale financing for effective post-disaster reconstruction and recovery efforts including leveraging public and private climate finance in an effective, catalytic manner to an increased adaptive capacity and a low greenhouse gas emission and climate-resilient development, aiding in the achievement of related Sustainable Development Goals.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are

The United Nations Framework Convention on Climate Change (UNFCCC) will set legally binding targets among nations. The Sustainable Development Goals (SDGs) will not be legally binding and will not replace or hinder the work of the UNFCCC. Rather, the Sustainable Development Goals, like the Millennium Development Goals today, will provide a global, easily understood, normative framework to mobilize all stakeholders in the fight for sustainable development, which must include efforts to curb human-induced climate change. The Sustainable Development Goals should therefore help the public to understand the critical issues, the solutions, and the urgency of changing course. Similar considerations apply to biodiversity, human rights, and other areas where legally binding international conventions have been adopted, but which also need to be addressed by the Sustainable Development Goals. The Sustainable Development Goals need to get to the crux of the matter on climate change: that is, heading off the rapidly growing dangers. Because the science of climate change continues to evolve, it is important to define the related Sustainable Development Goals so that it can evolve with the progress of scientific understanding and reflect new and hopefully stronger commitments made under the United Nations Framework Convention on Climate Change. Today’s consensus on avoiding a 2°C increase in temperature, for example, may not be ambitious enough according to a growing body of scientific evidence. This is especially troubling since the world is far off course from even achieving the 2°C target.

Access to infrastructure is essential for ending extreme poverty in all its forms and promoting sustainable development. The proposed Sustainable Development Goals (SDGs) divide the challenges of providing access to infrastructure between urban (SDG 7) and rural (SDG 6) areas. This division is motivated by the fact that infrastructure technologies, delivery models, and responsible actors vary significantly between urban and rural areas.

Reducing youth unemployment is a core priority for most countries. The proposed SDG 3 focuses on high- quality primary and secondary education and on effective institutions (such as apprenticeships) that can help youth prepare for decent work. The third target focuses directly on the youth unemployment rate. Likewise, the agriculture goal (SDG 6) includes the need for rural job creation and development, whereas the urban goal (SDG 7) addresses urban employment under its first target.

Most simply because it is the essence of proposed SDG 2. As emphasized throughout this document and in the “Framework of Programs on Sustainable Consumption and Production Patterns” adopted at United Nations Conference on Sustainable Development (Rio+20), the use of environmental resources and pollution must be brought down to levels that can be sustained over the long run. This in turn will require a major decoupling of pollution and environmental resource use from rising living standards and economic growth, consistent with achieving a net reduction in both aggregate pollution and resource use. In many areas consumption and production patterns will need to change significantly. Yet, the key question is not the level of “consumption” or “production” per se, but their primary resource, pollution, and ecosystem implications. Consumption and production in an economic sense (i.e., improvement of material conditions) can grow provided they are decoupled from pollution and unsustainable natural resource use. This is the normative essence of SDG 2.

Certain parts of the world, including the Sahel, the Horn of Africa (plus Yemen), the Great Lakes region of Central Africa, and parts of Central Asia, face extraordinary challenges as the result of the combination of extreme poverty, weak infrastructure, chronic violence, rapid population growth, and inherently difficult geographical conditions (such as being landlocked, small island states, extremely arid, highly vulnerable to droughts and floods, and/or having a high burden of communicable diseases such as malaria). Countries facing these tremendous and interconnected challenges need special international support, including timely and adequate external assistance. They also need a regional focus, since many of the problems (weak transportation, cross-border nomadism, displaced populations, droughts, epidemics, and conflicts) occur at the regional scale and must be addressed in part at that scale.

Several arguments have prompted the Leadership Council to include hunger and nutrition under extreme poverty:

i.     Hunger and malnutrition are challenges that affect rural as well as urban areas, so grouping hunger under a place-based “rural” goal might weaken the focus on urban hunger; 


ii.    Hunger is not only a function of food availability, which a goal focused on sustainable food production might suggest; 


iii.   Stunting and malnutrition are key dimensions of extreme poverty that give substance to the notion of “extreme poverty in all its forms”; and 


iv.   A poverty/hunger goal ensures full continuity with MDG 1. 


Note that in sub-Saharan Africa, the links between hunger and low agricultural productivity are especially acute, so that, in this region, the reduction of hunger and the achievement of sustainable agriculture are deeply intertwined. 

It is important that every target can be measured at the national or local level, but not every target can be defined globally in a meaningful way, for three distinct reasons:

i.     The starting points may differ too much across countries for a single meaningful quantitative standard at the global level; 


ii.    Some targets need to be adapted and quantified locally or may be relevant only in subsets of countries (e.g. those that refer to specific ecosystems); 


iii.   For some targets no global consensus exists today, and these still need to be negotiated, as is the case with greenhouse gas emission reduction targets. In the meantime, countries should establish their own plans and targets. 


In some cases, proposed numerical targets are presented in square brackets since these numbers are preliminary and may need to be reviewed by the corresponding technical communities.

Where possible, the Sustainable Development Goals should focus on outcomes, such as ending extreme poverty. Yet, the distinction between outcomes, outputs, and inputs needs to be handled pragmatically, and the design of goals and targets should be guided by approaches that are best suited to mobilize action and ensure accountability. For example, ensuring universal access to healthcare or high-quality early childhood development (ECD) are important commitments for every government. Goals and targets that focus on these outputs will ensure operational focus and accountability. In some instances it also makes sense to target inputs. For example, official development assistance (ODA) is critical for ensuring many Sustainable Development Goals and needs to be mobilized in every high-income country. Mobilizing resources for sustainable development is difficult, so subsuming official development assistance as an implicit input into every Sustainable Development Goal would make it harder for government leaders, citizens, and civil society organizations to argue for increased official development assistance. It would also weaken accountability for rich countries. Similar considerations apply, for example, to the proposed target on integrated reporting by governments and businesses on their contributions to the Sustainable Development Goals.

Several criteria have been identified for crafting the Sustainable Development Goals. They should be:

1. Universal: The goals should be applicable to all countries. In particular they should address the needs of low-income, middle-income, and high-income countries. 

2. Comprehensive: Together, the ten goals should spell out the principal challenges of sustainable 
development and provide a normative framework for the global partnership needed to address the profound and interconnected challenges the world faces. For example, the Sustainable Development Solutions Network (SDSN) feels that climate change is such an important challenge that these words need to appear in the title of one of the goals. 

3. Operational: To the extent possible, each goal should address and mobilize clearly defined knowledge communities comprising government departments, business, civil society, international organizations, and academia/research. Some goals therefore focus on specific operational or place-based challenges, such as urban management, climate change, or sustainable agriculture. Others focus on cross-cutting issues like gender equality or water management that must be addressed in every goal, but should also be highlighted through a dedicated goal. 

4. Jargon-free and easy to understand: Children should be able to learn the goals at school as a clear introduction to sustainable development. To this end the wording of the goals needs to be free of jargon. Where important technical concepts (e.g. ecosystems) are needed these should be included and become part of the introduction to sustainable development. 

5. SMART Targets: In general, targets should be “SMART”: specific, measurable (though some targets should remain fairly general and may require the setting of national/local targets or new metrics), attainable (though some will be “stretch” goals that can be attained only with considerable effort), relevant (to the four dimensions of sustainable development), and time bound to 2030 or earlier. 

6. Applicable to all stakeholders: The goals should apply to governments at all levels, business, civil society, international organizations, and other stakeholders. 

7. Integrated: The goals should promote integrated thinking and put to rest the futile debates that pit one dimension of sustainable development against another 

8. Limited in number: The Sustainable Development Solutions Network believes that ten is the maximum practical number. Beyond ten, the goals would lose the benefit of public understanding and motivation.

The proposed Sustainable Development Goals in such a way as to stay close to the structure of the Millennium Development Goals. They are not ordered by priority. All are very important and work in harmony with the others.

The United Nations Conference on Sustainable Development (Rio+20) outcome document refers to three dimensions of sustainable development (economic, social, and environmental) and emphasizes the importance of good governance as well as peace and security, which are sometimes referred to as a foundation of sustainable development. For simplicity we refer to the four societal objectives as dimensions of sustainable development: economic development (including ending extreme poverty), social inclusion, environmental sustainability, and good governance including peace and security.

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The involvement of the emerging economies, of developing countries and of international organizations has kept pace with, and reflects, a gradual evolution in the issues addressed by the Group of Seven. Initial interest in issues relating solely to financial stability and to macro-economic coordination were soon joined by an interest in other crucial themes ranging from development in Africa and climate change to food safety and the resolution of international crises. It was Italy, in Genoa in 2001, that inaugurated the now traditional “African segment” of the Summit, with dialogue sessions between the G7 leaders and the African countries invited by the Presidency.

The first meetings between the European Community and the G7 were held in London in 1977. Since the Ottawa Summit in 1981 the European Commission has regularly attended all the working sessions. The European Union shares all the G7’s values and is itself an important economic factor.

Other guests will be invited to the summit of the heads of state and government to discuss specific topics as part of what is known as the expanded dialogue. There is a long tradition of involving third countries and international organisations in G7 summits. The heads of state and government of various African nations are invited to one of the sessions. In a way of example, the G7 in Schloss Elmau has support the African states in their reform efforts. The aim was and still is to contribute to boosting peace, security, growth and sustainable development in Africa.

Before the G7 summits meeting will be held with representatives from business, the scientific community, trade unions, non-governmental organisations and young people from the G7 countries.

The G7‘s institutional structure is headed by a “Sherpa,” personal representatives of the Heads of State and of Government of the world’s seven most industrially advanced countries.

The role they play is named after the figures that guide adventurers to Himalayan peaks. Like the mountain climbing porters, the G7 Sherpas do the heavy lifting, overcoming obstacles and safely navigating the chosen paths, thereby defining those positions that will be undersigned at the Summit, on important global issues.

Sherpas are also responsible for the preparatory process preceding the Summit and oversees negotiations regarding the drafting of the Final Communiqué.

Sherpas regularly communicate with each other in connection with their respective leaders’ positions and proposals on international issues, and they are in touch with their leaders directly at all times.

The post of Sherpa is traditionally held by a high-ranking diplomat.

The Sherpas are supported in their role by Foreign Affairs Sous-Sherpas (FASS) and a Political Directors (PD). They are assisted by a representative of the Ministry of Foreign Affairs (the PD) who is responsible for foreign and security policy issues, and by another representative of the Ministry of Foreign Affairs (the FASS) who is generally in charge of such cross-cutting issues as the environment, social and economic aspects, and development.

The Economy and Finance Ministry, on the other hand, handles the economic and financial issues on the Summit’s agenda. Ad hoc working groups can also be set up to address particularly complex, technical issues.

• 2019     France
• 2020    United States
• 2021    United Kingdom

The country holding the presidency is responsible for organising the annual summit and for drawing up the summit agenda. The governments’ chief negotiators, known as sherpas, do the preparatory and follow-up work. They establish on which issues agreement can be reached and where there is still need for discussion, and they prepare the final declarations containing the key outcomes of the summit.

The G7 do not reach decisions by majority vote. The countries have to reach unanimous agreement on their summit declaration. Even if the decisions are not legally binding, their global impact should not be underestimated.

The G7 is a forum for dialogue at the highest level attended by the leaders of the world’s most important industrially advanced democracies. Its chief features are the intergovernmental nature of the preparatory process and its informality, which makes it easier for the leaders to discuss the world’s major issues and to rapidly devise and agree on solutions to them. Given that it is not an international organization, it is devoid of any kind of administrative structure or permanent

The G7 is not an international organisation, but what is known as an unofficial forum. That means that it does not adopt resolutions that have direct legal effect. The G7 has neither its own administrative apparatus with a permanent secretariat nor someone who acts as its members’ permanent representative. That is why the rotating presidency is so important.

The G7 sees itself as a community of values that stands for peace, security and a self-determined life all around the world. Freedom and human rights, democracy and the rule of law, as well as prosperity and sustainable development are key principles of the G7.

France, Italy, Japan, the United Kingdom, the United States, and West Germany formed the Group of Six in 1975 (Canada joined the following year) to provide a venue for the non-Communist powers to address pressing economic concerns, which included inflation and a recession sparked by the OPEC oil embargo. Cold War politics invariably entered the group’s agenda.

The European Union (EU) has participated fully in the G7 since 1981 as a “nonenumerated” member. It is represented by the presidents of the European Council, which comprises the EU member states’ leaders, and the European Commission, the EU’s executive body. There is no formal criteria for membership, but participants are all developed democracies. The aggregate GDP of G7 member states makes up nearly 50 percent of the global economy, down from nearly 70 percent three decades ago.

Unlike the United Nations or the NATO, the G7 is not a formal institution with a charter and a secretariat. Instead, the presidency, which rotates annually among member states, is responsible for setting the agenda and arranging logistics. Ministers and envoys, known as sherpas, hammer out policy initiatives at meetings that precede the annual summit of national leaders.

The Group of Seven (G7) comprises seven leading industrialised nations: The United States of America, the United Kingdom, France, Italy, Japan, Canada and Germany. In addition, the European Union sends representatives to all the meetings. 

The summits give the heads of state and government the opportunity to discuss their respective positions in personal meetings. A summit declaration containing the key outcomes is issued at the end of each summit meeting, sometimes along with additional reports and action plans. 

Participants discuss issues that are of global importance, including global economic issues and foreign, security and development policy. They also address those issues that require political action and that generate widespread public interest.

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All the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”) financial statements, quarterly reports to donors, as well as the Annual report are regularly posted in the Donors Center section of the DRRRF website. You can access DRRRF key documents and reports through the Library Section of the DRRRF website.

Donors can contact the Global Bank, the Administrator for the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”), to indicate your intention to make donations. The main point of contact is ____________, DRRRF CEO, based in Newport Coast (GBDRRRF Secretariat Contact Form).

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Global Bank plays three roles: (1) Manager (to carry out fiduciary responsibilities as set out in the Global Bank DRRRF Administration Agreement), (2) The DRRRF Secretariat (a small team to support the DRRRF Steering Committee and DRRRF Technical Advisory Committee and facilitate communications between the DRRRF Steering Committee and the other partners of DRRRF), and (3) Supervising Entity of DRRRF funded and granted projects. The Global Finance and Investment Corporation (GFIC), the Global Bank Group’s private sector arm, manages the Sustainable Private Sector Disaster Risk Management Window of the DRRRF. Additionally, Global Bank's Development Impact Evaluation Initiative (DIME) has been selected by the DRRRF Steering Committee to implement in-depth impact evaluations for selected DRRRF Sustainable Public Sector Disaster Reduction and Recovery Window projects.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and How we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

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The Management Committee (the "DRRRF Management Committee”) is responsible for overseeing the operations of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”). It also reviews the DRRRF finances and makes recommendations to the DRRRF Secretariat on the management of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are

The governance and organizational structure of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”) includes an Administrator, a DRRRF Board of Directors, a Steering Committee, a Management Committee, a Technical Advisory Board, a Grants Committee, a DRRRF Secretariat and a Trustee, plus three working groups. This sound framework will enable the DRRRF to adapt to changing circumstances and development priorities, with consistency and consensus.

Background details of board members, advisers, technical advisers, experts or persons of similar status to these committees that are participating in the Governance and Oversight of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund are provided in the Management and Organization Section of the Section of the DRRRF Website.

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and how we do it and Management and Organisation, visit the About DRRRF Section of the DRRRF Website.

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The Sustainable Public Sector Infrastructure Window will focus on building strong national and regional and subregional economic integration objectives and policy dialogue-driven replicability of project structures based on commercialisation, corporatisation and institutional strengthening. It will also ensure that projects are well structured and bankable, responding to these needs identified by both the Global Bank and the international consensus on infrastructure. Sustainable Public Sector Infrastructure Window is expected to prepare approximately 15-20 projects per year when operating at full capacity.

Project preparation typically costs between 5%–10% of the project’s capital cost, and can be financed via grants, risk capital, and loans.

Project preparation costs in developing countries typically range between 5%–10% of the total project investment. The project preparation cost depends on the project’s size and complexity whether several regional governments are involved, how prolonged the preparation process becomes, and the extent to which upstream preparation is complete. Clearly, the more efficient project preparation is, the greater the leveraging effect of a dollar spent in project preparation on infrastructure delivered to the benefit of end users.

Lack of financing is not exclusively, or even mainly, the issue.

The global financial crisis of 2008 has reduced bank debt available to finance infrastructure projects, as well as increased pricing, stricter lending covenants, and shorter tenors. In particular, several large European banks have deleveraged and retreated from markets in which they once played important roles.

Simultaneously, however, non-bank lending for infrastructure is taking on a new momentum.¹ Infrastructure, sovereign wealth, and pension funds are looking for asset classes with steady, inflation-adjusted income streams, and development banks are working to expand the number of vehicles available to access infrastructure.

A critical obstacle slowing the flow of private capital to infrastructure is the lack of properly structured, bankable projects.² Properly analyzed (with detailed demand, engineering, and costing analysis) and well-structured projects are able to find financing.³ This does not imply that these projects are immune to uncertainty and risk. However, inherent uncertainties are clearly identified for investors to make calculated assumptions on the probabilities of expected outcomes, translate uncertainty into risk, and factor this into an expected return.

In practice, many projects do not have an adequate fact base built during preliminary work and potential investors face ambiguity (rather than uncertainty), which cannot be quantified and translated into a risk–return tradeoff. Frequently, infrastructure projects do not attract funding because they lack the adequate level of study necessary to establish their bankability, and projects that are not deemed bankable fail to attract more than cursory investor attention.

In short, funding challenges are real and significant. However, funding sources and mechanisms are largely responsive to the depth and quality of the project pipeline, rather than the key determinants of it. The remainder of this paper will focus on this critical issue of the challenge.

The Global Bank has estimated that an additional US$1 trillion per annum to 2020 is required by developing countries to keep pace with consumer and producer demand for infrastructure. To keep pace with projected global GDP growth, the infrastructure financing gap increases to an estimated US$57 trillion over the period to 2030 (MDB Working Group on Infrastructure, 2011). Alternatively, the World Economic Forum estimates that close to US$2 trillion per annum will be required to meet the infrastructure needs of developing economies by 2030 (WEF, 2012).

By consensus estimates from the Organisation for Economic Co-operation and Development (OECD) to the Boston Consulting Group and the World Bank Group, the estimated annual global infrastructure investment need is about US$3.7 trillion – of which only about $2.7 trillion is currently met on an annual basis. The figure does not include ‘development goals’ and emerging market economies (EMEs) would need an additional US$1 trillion per year until 2020 just to keep pace with the demands of urbanisation, growth, climate change and global integration.

This much-discussed “infrastructure gap” is large and it is widening. Even if fiscal conditions in developed and emerging economies improve, the need introduced by the infrastructure financing gap is unlikely to be met from public sources alone. This generates an expectation that private capital and user charges must be mobilized to fill these gaps.

Yes. Global Bank values transparency and is committed to increased access to information under the public communications policy (PCP). An essential part of our institutional governance, the public communications policy promotes proactive external relations and recognizes the right of people to seek, access, and impart information about our operations.

Global Bank's commitment to Open Bank Strategy¹ is part of the Bank's efforts to foster greater openness and accountability, to provide domestic and international firms and citizens with more opportunities to learn about Global Bank and participate in international development, to drive innovation and economic opportunities for all, and at the same time create a more cost effective, efficient and responsive organization.

The emergence of open networked models made possible by digital technology has the potential to transform international development. Open network structures allow people to come together to share information, organize, and collaborate. Today’s amazing mix of cloud computing, ever-smarter mobile devices, and collaboration tools is changing the consumer landscape and bleeding into Global Bank Group as both an opportunity and a challenge. Global Bank Group will deliver and receive digital information and services anytime, anywhere and on any device safely and securely.

Global Bank Group Action Plan on Open Bank Strategy sets out our commitments for the Open Bank Partnership, which we will achieve over a three-year period through the effective and prudent use of resources. It is structured along the four streams of our Open Bank Strategy: Open Information², Open Data³, open Knowledge⁴, and Open Dialogue⁵.

The Global Bank Group portal, www.Global-Bank.org, is expected to be fully operational by September 2016. The portal initially will cover 35 subjects in climate resilient infrastructure, climate finance and economic and human development data on more than 50 countries by 2021. The portal is expected to attract a broad range of users, including policymakers, development practitioners, infrastructure and infrastructure finance practitioners (public, private, and nongovernment sectors), trade associations, researchers, students, and journalists. The Web Site will be updated frequently, and will feature blogs and discussion forums.

In order to earn trust, credibility and legitimacy in the eyes of its stakeholders, the Executive Board of Global Bank Group has adopted an open and transparent selection process for the selection of its senior leadership that results in the most competent person being appointed regardless of their nationality.In 2014, the Global Bank Group introduced a policy implementing transparent and merit-based assessment in the selection of all Global Bank Group agency heads and other office holders working in, or in conjunction with, Global Bank Group agencies.The Global Bank Group sets out a number of factors that must be considered in determining merit. These include the applicant's education, skills, knowledge, experience, past work performance and years of continuous service in the public service.The Global Bank Group distinguishes between permanent and longer-term temporary appointments and those that are seasonal or short-term temporary appointments. Specifically, permanent appointments and temporary appointments exceeding seven months are to be the result of a process designed to appraise the knowledge, skills and abilities of eligible applicants. Employees with permanent and longer-term appointments form part of the core career professional on which Global Bank Group relies for advice and expertise. It makes sense that the Global Bank Group sets a more rigorous standard for making these types of appointments. These appointments may require recruitment to attract applicants. Individuals are assessed for merit against the selection criteria required for the job. A competitive process allows applicants to be rated and ranked relative to one another, so that those who are successful are the best-qualified candidates.Auxiliary, seasonal appointments or those for temporary periods of seven months or less still need to be based on a consideration of individual merit, but they do not require a competitive process.The recruitment and selection processes that result in merit-based appointments include these essential elements: a process used to recruit, select and assess that is transparent and fair; an assessment that is relevant to the job; and decisions that are reasonable. Merit-based hiring takes into consideration both legislation and hiring policy. Where applicable, requirements of collective agreements are also considered. These elements support a results-based approach to staffing and are considered as part of the audit and review of appointment decisions undertaken by the Office of the Merit Commissioner.

The Global Bank Group has set two goals for the world to achieve by 2030:

• End extreme poverty by decreasing the percentage of people living on less than $1.25 a day to no more than 3%
• Promote shared prosperity by fostering the income growth of the bottom 40% for every country

Global Bank Group in partnership with member and non-governments, independent specialists and other financial institutions is focused on delivering projects that create economic and development impact.The Global Bank Group's activities are focused on developing countries, in fields such as human development (e.g. education, health), agriculture and rural development (e.g. irrigation and rural services), environmental protection (e.g. pollution reduction, establishing and enforcing regulations), infrastructure (e.g. roads, urban regeneration, and electricity), large industrial construction projects, and governance (e.g. anti-corruption, institutions development). Some of our projects are co-financed with governments, other multilateral institutions, commercial banks, export credit agencies, and private sector investors. GBG will also provide or facilitate financing through trust fund partnerships with bilateral and multilateral donors.

Our headquarters is located in Newport Coast, California, USA.

The Global Bank Group (GBG or the Bank Group) is composed of five separate institutions with a common mission and distinct mandates towards its fulfillment: The Bank for International Development and Reconstruction (BIDR); The Global Fund for International Development and Reconstruction (GFIDR); the Global Finance Corporation (GFC); the GFC Asset Management Company (AMC); and the Global Bank Investment Guarantee Agency (GBIGA). Each agency is owned and operated by the Global Bank Group.The Global Bank Group's activities are focused on developing countries, in fields such as human development (e.g. education, health), agriculture and rural development (e.g. irrigation and rural services), environmental protection (e.g. pollution reduction, establishing and enforcing regulations), infrastructure (e.g. roads, urban regeneration, and electricity), large industrial construction projects, and governance (e.g. anti-corruption, institutions development).

The current primary focus of the Global Bank Group centers on six strategic themes: 

• The poorest countries. Poverty reduction and sustainable growth in the poorest countries, especially in Africa.
• Postconflict and fragile states. Solutions to the special challenges of postconflict countries and fragile states.
• Middle-income countries. Development solutions with customized services as well as financing for middle-income countries.
• Global public goods. Addressing regional and global issues that cross national borders, such as climate change, and trade.
• The Arab world. Greater development and opportunity in the Arab world.
• Knowledge and learning. Leveraging the best global knowledge to support development.

Strengthening the results orientation of the Global Bank Group has been a key priority to ensure that loans and donors contributions are generating positive and lasting results on the ground. For example, Global Bank Group has created special structure in Global Bank Infrastructure Project Preparation Facility to assess results and is now working to ensure that lessons from projects are incorporated into new projects and programmes.Results are measured and managed at several levels, including by tracking outcomes at the project level and linking disbursements to the achievement of specific targets. In addition, the Global Bank will report on results through the following three publicly available forms; 1) an annual report known as the “Corporate Scorecard”; 2) an annual report prepared by an Independent Evaluation Group (IEG) housed at the Global Bank Group; and 3) a management action record, which tracks the adoption of the Independent Evaluation Bank Group’s recommendations. These transparent assessments of performance ensure that loan and donor’s dollars are being invested wisely, and will lead to long-term improvements in development results.

Global Bank Group’s aims to work with its borrowing developing countries so that they can achieve equitable and sustainable economic growth in their national economies and find effective solutions to pressing regional and global problems in economic development and environmental sustainability, all with a view to overcoming poverty and improving standards of living. It pursues this goal primarily by providing financing, risk management products and other financial services, access to experts and a pool of knowledge in development-related disciplines so that borrowing countries can pool, administer and prioritize resources they dedicate to development-related objectives.

The Bank for International Development and Reconstruction (BIDR)The Bank for International Development and Reconstruction (BIDR) offers loans, guarantees and analytical and advisory services to middle-income countries and creditworthy poorer countries in Latin America, Asia, Africa and Eastern Europe. It provides its clients with access to capital on favourable terms in larger volumes, with longer maturities and in a more sustainable manner than the market. BIDR raises most of its funding by selling bonds on the international capital markets. The surplus generated from BIDR lending is to a large extent used to extend grants and loans on very favourable terms to low-income countries through The Global Fund for International Development and Reconstruction. The Global Fund for International Development and Reconstruction (GFIDR)The Global Fund for International Development and Reconstruction provides grants and loans with very long maturity period and no interest to the poorest countries to help cover the cost of lifting people out of poverty, including the cost of providing essential services in education, health water and sanitation.The Global Fund for International Development and Reconstruction credits are granted to developing countries with a GDP per capita of less than $1,135, and which do not – or only to a limited extend – have access to commercial lending and The Bank for International Development and Reconstruction loans.

Global Bank’s decision-making structure consists of the Board of Governors, the Board of Executive Directors and the President and staff. The Board of Governors is the highest decision-making authority. Members of the Board Governors are appointed by the shareholders of Global Bank for five-year terms, which are renewable. The Board of Governors may delegate authority to the Board of Executive Directors to exercise any of its powers, with the exception of certain powers enumerated in Global Bank’s Articles.In accordance with its Articles, members of the Board of Executive Directors are appointed or elected every two years. The Board is composed of 22 Executive Directors. These Executive Directors are neither officers nor staff of Global bank. The President of Global Bank, Ron Nechemia, is the only member of the Board of Executive Directors from management, serving as a non-voting member and as Chairman of the Board.

The Global Bank Group combines the characteristics of a multilateral development bank  with those of a private financial institution.

Four aspects are critical to the Global Bank Group’s approach to infrastructure in Sustainable Infrastructure Action Plan:

1. Address the core access agenda in the following infrastructure sectors: transport, energy, water, and Information and Communication Technologies for development;
    
2. Maximize effectiveness through a focused approach to complex cross-sectoral issues such as the role of infrastructure in climate change mitigation and adaptation efforts, the role of public–private partnership (PPP) in the provision of infrastructure services, and new ways to provide infrastructure support for rural-urban integration and development;
    
3. Focus on social and environmental objectives in addition to the economic/financial viability, and ensure access to affordable infrastructure services through a platform of strong governance; and
    
4. Leverage Global Bank Group financing through:

• Support to governments to create a market environment supportive of private investment;
• Direct support for private financing of infrastructure;
• Increased advocacy to ramp up harmonized donor financing; and
• Systematic use of financial products that address the financial risks faced by clients and reduce the overall project costs

Global Bank Group is evaluating how their activities impact on infrastructure development in developing countries and considering ways to expand their involvement. Global Bank led the preparation of a paper on the role of Global Bank Group in support of long-term financing. Infrastructure development often requires long-term financing given the high construction costs and long asset lives of facilities like road, ports and power stations.

Chelsky and Morel considered the ‘additionality’ provided by development banks to long-term financing. This included whether a project would have gone ahead without official-sector involvement which, if so, would represent a waste of development banks resources. This concept of ‘additionality’ is also referred to as ‘catalysing’, ‘mobilising’ or ‘crowding in’⁶ new resources. The extent of additionality development banks provide for infrastructure financing cannot easily be proven (or indeed disproven, such as when an investor says s/he would not have invested if not for the presence of an development banks).

Global Bank Group identifies a variety of ways in which Global Bank Group contribute to long-term investment, which we have grouped into four basic categories, as follows.

• Direct financial assistance from Global Bank Group
   
• Indirect financial assistance –Global Bank Group as catalyst
   
• Non-finanicial Global Bank Group project assistance
   
• Global Bank Group improving the investment climate

Global Bank Group needs to improve its agility in responding to client and stakeholder demands at several levels, including:

1. Increase  joint work, such as joint Global Bank- Global Finance Corporation sub-national transactions and Global Bank- Global Bank Investment Guarantee Agency -Global Finance Corporation collaboration on large and complex infrastructure projects, particularly energy sector projects in Africa; joint advisory services and upstream Analytical and Advisory Activities; and develop rules of joint engagement for common Global Bank Group product lines;
    
2. Reduce the non-financial costs of doing business in high priority sectors, including hydropower;
    
3. Improve results monitoring and evaluation of the sustainable infrastructure interventions;
    
4. Increase the utilization of the Global Bank Group financial expertise and access to multiple financial resources for transactions packaging for high priority objectives, such as the mitigation of sovereign and natural catastrophic risks; and
    
5. Maximize the benefits from the Sustainable Development Network Vice-presidency integration, including through training and recruitment.

Global Bank Sustainable Infrastructure Action Plan has been prepared as an umbrella framework that brings together the lessons of the multilateral development bank’s (MDB) infrastructure experience from the past decades and the more recent achievements in public-private partnership and infrastructure development. The umbrella framework character of Global Bank Sustainable Infrastructure Action Plan provides broad orientation to the many individual efforts to increase infrastructure support by the different institutions of the Global Bank Group through multiple product lines.
 

Countries around the world are confronted with the challenge of satisfying their citizens’ demand for high-quality infrastructure services, while facing severe fiscal constraints. The importance of infrastructure sustainability has gained increasing room in the global discussion. Indeed, infrastructure sustainability is at the core of the global sustainable development agenda: 6 out of the 17 preliminary Sustainable Development Goals deal directly with infrastructure. While the concept of sustainable infrastructure has been traditionally associated with building environmentally sound, or “green” infrastructure, it becomes increasingly evident as each day passes that it reaches well beyond the environmental dimension.

Although there is no final consensus on what sustainable infrastructure entails – as evidenced by the multiplicity of rating and assessment schemes produced in the past few years – there is some agreement with the idea that a comprehensive approach to sustainability should seek to devise infrastructure that is tailored to local social, economic and ecological environment and caters the need for infrastructure services in the most effective and efficient way. This requires not only assessing and addressing environmental risks. Sustainability also requires assuring financial resources to maintain infrastructure over its entire lifespan, considering users’ preferences and needs in the design (for maximum effectiveness), and understanding the institutional and political dynamics in order to guarantee projects’ endurance through the political cycle.

The growing awareness of the impact of the infrastructure deficit and its impact on developing countries’ poverty reduction and economic growth prospects prompted calls for the Global Bank to engage and scale up its assistance. Upon request from the Board of Executive Directors, Management launched the Global Bank Sustainable Infrastructure Action Plan (GBSIAP) in 2016 for the FY16-21 period.