Finance Ministers from the 53 member countries of the Commonwealth, many of who are Africans, are converging at the margins of the International Monetary Fund and World Bank annual meetings this week in Bali, Indonesia.
and intensity in the devastating disasters that have affected countries
in many regions of the world in recent years, including fatal
hurricanes, landslides, earthquakes and tsunamis.
ministers directly address the obstacles linked to mobilising disaster
finance, in order to assist member countries with reducing, managing,
and adapting to disaster risk.”
work on defining and measuring vulnerability at the meeting on
Thursday, which would be chaired by Nauru’s Minister of Finance, David
Special Representative of the UN Secretary-General on Disaster Risk
Reduction, Mami Mizutori.
Finance Portal would serve as a ‘one stop shop’ for streamlined access
to the numerous financing tools already available.
the complex funding processes and broad range of providers, each with
differing eligibility and access criteria, and challenging terms and
Commonwealth Climate Finance Access Hub’s advisory and technical support
to cover disaster finance more widely, especially for smaller and more
vulnerable Commonwealth countries.
the of the programme, which already has been instrumental in helping to
mobilise more than £4 million for climate projects in various parts of
the Commonwealth, with a further £140 million
in the pipeline.
of a new universal economic vulnerability index to focus on the
economic, environmental, socio-political causes of vulnerability.
longest established annual ministerial meeting in the cycle of
intergovernmental Commonwealth gatherings.
collectively to consider approaches to emerging global issues and the
economic development work programme of the Commonwealth.
Bank Governors would meet on Wednesday, prior to the ministerial
meeting, to discuss disaster risk reduction and financial technology