NDMA’s Executive Director Hon. Ansu V. S. Dulleh Sr. Holds Meeting with World Bank-Liberia to Draw up Activities That Would Lead to the Development and Approval of a Disaster Risk Financing Strategy.
The Disaster Risk Financing Strategy is a comprehensive plan to manage the financial impacts of disasters, ensuring prompt and effective access to funds for response, recovery and resilience building, while minimising long-term economic and fiscal strain.
It can be recalled that the World Bank committed US$ 20 million for disaster response. The development and approval of the Disaster Risk Financing Strategy is intended to begin the process of triggering the fund. Standards set by the World Bank to trigger the fund are expected to focus on proactive financial planning, financial resilience, cost effectiveness, multi-sectoral approach, risk assessment and identification, financing mechanisms, debt relief, contingency funds, disaster risk reduction measures, early warning systems, coordination and collaboration, among other things.
Accessing the fund in Liberia will greatly improve disaster response, reduce economic losses, enhance financial resilience, support sustainable development and build the human and logistical capacities of the NDMA.