Infrastructure Resilience Accelerator Fund
Infrastructure Resilience Accelerator Fund was announced by the Coalition for Disaster Resilient Infrastructure (CDRI) at the India Pavilion of COP27.
What is Infrastructure Resilience Accelerator Fund?
- Infrastructure Resilience Accelerator Fund (IRAF) is a multi-partner trust fund set up by the Coalition for Disaster Resilient Infrastructure (CDRI).
- This multi-donor trust fund was established with the assistance from the United Nations Development Programme (UNDP) and the United Nations Office for Disaster Risk Reduction (UNDRR).
- The fund will be managed by the United Nation Multi-Partner Trust Fund Office (UN MPTFO) in New York.
- It will assist the global efforts towards creating disaster-resilient infrastructure systems, especially in developing countries and Small Island Developing States (SIDS).
- Over 50 million USD of financial commitments have already been announced for this trust fund for an initial duration of 5 years.
- It has backing from the governments of India, the United Kingdom, Australia and the European Union.
- The IRAF’s programme will provide customized technical assistance, capacity building, research, knowledge management and advocacy across the overall infrastructure life-cycle for countries at all stages of development.
- The initial focus of this fund will be on supporting island states in the Pacific region. In this regard, Infrastructure for Resilient Island States (IRIS) is one of the first initiatives supported by the IRAF.
About the CDRI
Coalition for Disaster Resilient Infrastructure (CDRI) was launched in 2019 by Indian Prime Minister Narendra Modi at the UN Climate Action Summit in New York. It brings together governments, UN agencies and programmes, multilateral development banks and financing mechanisms, the private sector, and knowledge institutions to boost resilience of the new and existing infrastructure systems to climate and disaster related risks and help support the sustainable development. It aims to rapidly develop resilient infrastructure, which will help achieve the Sustainable Development Goals’ imperatives of achieving universal access to basic services, prosperity and decent work.
Month: Current Affairs – November, 2022
Category: International / World Current Affairs
Topics: CDRI • Coalition for Disaster Resilient Infrastructure (CDRI) • COP27 • Disaster Managament • infrastructure
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