CDRI announces Infrastructure Resilience Accelerator Fund at COP27
1 min read 09 Nov 2022, 05:22 PM ISTIRAF, a multi-donor trust fund, established with the support of UNDP and UNDRR, will support global action on disaster resilience of infrastructure systems, especially in developing countries and Small Island Developing States
PremiumNew Delhi: The Coalition for Disaster Resilient Infrastructure (CDRI) on Wednesday announced Infrastructure Resilience Accelerator Fund (IRAF), a CDRI Multi-Partner Trust Fund, at the India Pavilion, COP27, Sharm El Sheikh, Egypt. Around $50 million in financial commitments have already been announced for IRAF over an initial duration of five years.
IRAF, a multi-donor trust fund, established with the support of UNDP and UNDRR, will be managed by the United Nation Multi-Partner Trust Fund Office (UN MPTFO), New York, to support global action on disaster resilience of infrastructure systems, especially in developing countries and Small Island Developing States (SIDS).
Supported by India, the UK, Australia and the European Union, IRAF’s multi-pronged programme focus will offer customized technical assistance, capacity building, research, knowledge management, and advocacy across the infrastructure life cycle for countries at all stages of development.
“We believe that IRAF will enable CDRI to achieve its mandate of resilience through risk informed investments and infrastructure development resulting in reduced vulnerability of populations and reduced impact of extreme events and disasters on infrastructure systems," said Amit Prothi, Director General, CDRI.
IRAF will play a crucial role in equipping the coalition to deliver on improved infrastructure governance, inclusive infrastructure services, diversified knowledge, and financing for resilient infrastructure globally. One of the first initiatives to be supported by IRAF is the Infrastructure for Resilient Island States (IRIS).
“As one of the founding contributors, Australia warmly welcomes the establishment of CDRI’s Infrastructure Resilience Accelerator Fund. This Fund’s early focus on supporting island states will be particularly critical for the Pacific region which is at the forefront of dealing with the effects of climate change—there has never been a more important time to focus on resilient infrastructure than now," said Pat Conroy, MP, Australia’s Minster for International Development and the Pacific.
