G20: Disaster Risk Financing is a Priority

On November 5, the G20 had its last series of meeting for the Mexican Presidency. In its final official communique, the members of the G20 declared: “We recognize that disaster risk financing policies are necessary for an overall Disaster Risk Management (DRM) strategy. We appreciate and welcome the combined efforts made by the World Bank and the OECD, with the support of the United Nations, to broaden the participation in the discussion on DRM by highlighting the central role that financial policymakers play to support other areas of Government and civil society in dealing with disasters. We welcome the G20/OECD voluntary framework for disaster risk assessment and risk financing which provides a detailed guideline that aims to facilitate the implementation of more effective DRM strategies. We encourage further efforts by the World Bank and OECD in cooperation with other relevant international organizations to leverage the voluntary framework in order to address remaining challenges.”