Global Bank Disaster Risk Reduction and Reconstruction Fund

A project by Launched by Global Bank Group; Sponsor - the Global Bank

Mainstreaming climate change into development to achieve the Sendai Framework targets by 2030 & support implementation of the Global Climate Agreement in Paris.
The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (“GB-DRRRF”) established in October 2017, as a Global Bank Group-supported partnership of donor and recipient countries and international organizations mobilizing additional human, financial, knowledge and technological resources. All on an unparalleled scale impacting millions of lives. 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 and climate change adaptation into development strategies, policies and investment programs, including post-disaster recovery and reconstruction. It is a multi-donor partnership and grant-making financing mechanism. Its purpose is mainstreaming climate change into development to help achieve the Sendai Framework targets by 2030 (adopted at the Third UN World Conference on Disaster Risk Reduction, March 14-18, 2015, Sendai, Japan) - a decade-long plan to 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. Read More >>
The central aim of GB-DRRRF is to strengthen the global response to the threat of climate change by keeping a global temperature rise this century well below 2 degrees Celsius above pre-industrial levels. Additionally, the GB-DRRRF aims to increase the ability of countries to deal with the impacts of climate change, and at making finance flows consistent with a low greenhouse gas emissions and climate-resilient pathway. To reach these ambitious goals, the GB-DRRRF supports appropriate mobilization and provision of financial resources, a new technology framework and enhanced capacity-building, thus supporting action by developing countries and the most vulnerable countries, in line with their own national objectives.

About the Organization /Team

The GB-DRRRF, established by the Global Bank Group (GBG), is jointly managed by GBG's Climate Change Department and its Regional Departments to facilitate the implementation of the International Strategy for Disaster Reduction. Created to be the focal point in the GBG for the coordination of disaster risk reduction it ensures synergies among the relevant activities of GBG agencies and regional organizations, and related activities in socio-economic and humanitarian fields. Governance includes an Administrator, a DRRRF Board of Directors, a Steering Committee, a Management Committee, a Technical Advisory Board, a Grants Committee, a Coordination Unit, a Trustee, and 3 working groups.
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