DRRRF

THE GLOBAL BANK
DISASTER RISK REDUCTION
AND RECONSTRUCTION FUND

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What are the main components of the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund?

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

 
1Countries with more than 30% population and GDP in areas of risk to one or more hazards (Hotspots Study, The World Bank and Columbia University)

 

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