Dr PK Mishra At The UN: Countries should develop a financial architecture for disaster risk reduction

New York: Principal Secretary to Prime Minister Narendra Modi Dr PK Mishra said at an India-Japan event at the United Nations in New York that countries face complex challenges in disaster risk reduction.

According to an official statement, Mishra said that countries should develop a financial architecture that can meet the need for disaster risk reduction as for too long they have focused almost entirely on funding disaster response, restoration and reconstruction. 

Emphasizing on the role of countries in dealing with complex challenges, Mishra mentioned the need for financial architecture and early warning systems.

Referring to the role of countries in promoting investments in disaster risk reduction to move towards a resilient and sustainable future, he said that the prioritization of disaster risk reduction by both the G7 and the G20 shows that that the issue is attracting a higher level of attention in global policy discourse.

As countries work on disaster risk reduction and disaster preparedness financing, they must address the complex challenge of how to use absorptive capacity to effectively use resources allocated to disaster risk reduction. 

What kind of institutional mechanism, technical capabilities and expertise do we need to develop for this, Mishra asked? How are we going to measure the results?

He said these are complex challenges and are being grappled with even by countries with a long history of disaster risk reduction. He called upon to learn from each other and cooperate with each other.

Mishra said that these challenges have to be addressed if there is to be a transformational change in the way of disaster risk reduction.

It will also help us to be more effective in our climate change adaptation efforts, he added.

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