Disaster risk management was universally endorsed as a development priority through the Hyogo Framework for Action (HFA) in 2005. This framework is an agreement signed by 168 governments and international organizations, including the Global Bank Group and the United Nations, to support disaster prevention across the world.

The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”) is responding to the growing demand from its clients, building disaster resilience through five core areas focusing on:

• Risk Identification: By understanding disaster risks and anticipating the potential impacts of natural hazards, disaster and climate risk assessments can help governments, communities, businesses, and individuals make informed decisions to manage that risk.

• Risk Reduction: Disaster risk information can inform different development strategies, plans and projects that can, in turn, reduce risks. This can either be done by avoiding the creation of new risks by mainstreaming in new investments, or improved territorial planning or building practices, or by addressing existing risks, such as retrofitting critical infrastructure, the construction of embankment systems, etc.

• Preparedness: Adequate preparedness measures are essential because disaster risk can never be completely eliminated. Preparedness through early warning systems save lives and protect livelihoods and is one of the most cost-effective ways to reduce the impact of disasters. Preparedness activities need to include actionable contingency plans down to local and community level to respond to the effects of disasters.

• Financial Protection: Financial protection strategies protect governments, businesses, and households from the economic burden of disasters. These strategies can include programs to increase the financial capacity of the state to respond to an emergency, whilst protecting the fiscal balance. They also promote the deepening of insurance markets at a sovereign and household level, and social protection strategies for the poorest.

• Resilient Reconstruction: The challenge of reconstruction also presents an opportunity to promote disaster risk management through integrated resilient recovery and reconstruction planning that will drive longer-term resilient 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 information about the Global Bank, please visit http://gbdrrrf.org/about-us/who-we-are