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What is the DRRRF’s Comparative Advantage?

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

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