Innovative Funding model to finance post disaster needs to be improved.- Sambal member upload

Innovative Funding model to finance post disaster needs to be improved. Disasters are happening everywhere. They are affecting the rich and poor countries. Economic losses from disasters such as earthquakes, tsunamis, cyclones, and flooding are now

BY: Sanjay Pandey
Organization: Yuganter
Original Source / Author: Daniel J. Clarke and Stefan Dercon 21 Jun, 2017
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Innovative Funding model to finance post disaster needs to be improved.

 

Disasters are happening everywhere. They are affecting the rich and poor countries.  Economic losses from disasters such as earthquakes, tsunamis, cyclones, and flooding are now reaching an average of US$ 250 to 300 billion dollar a year. In the last twenty years, more than 5, 30,000 people died as a direct result of approximately extreme weather events alone. Most of the deaths and serious injuries were in developing countries.

 

The problem is to check these losses. According to one study by DANIEL J . CLARKE STEFAN DERCON three things need to be put in place before a disaster to protect lives and livelihoods.

 

  • A coordinated plan for post-disaster action agreed in advance.
  • A fast, evidence-based decision-making process.
  • Financing on standby to ensure that the plan can be implemented.

 

Of these Disaster risk financing strategies details matter much. New disaster risk financial instrument  be innovated. Kenya, Ethiopia, Mexico and other countries are examples good pre-disaster planning and preparation by governments. It helps all those affected by a natural disaster get back on their feet as quickly as possible. It glues all other elements.

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