06 JUN 2025, New Delhi
India has called for concrete and time-bound global action to strengthen disaster risk reduction (DRR) financing, including the creation of a dedicated international facility that can offer funding, technical support, and knowledge sharing. The message was delivered by Dr. P.K. Mishra, Principal Secretary to the Prime Minister, at the Ministerial Roundtable on DRR Financing held in Geneva on June 4, 2025.
Dr. Mishra said that disaster risk financing is not a side issue, it is central to protecting lives, development progress, and economic stability, especially in the face of increasing climate-related disasters.
India’s DRR Financing: A Model of Growth and Structure
He highlighted India’s journey in building one of the world’s largest nationally anchored DRR financing systems, noting that allocations have grown from just INR 60 million in earlier years to over INR 2.32 trillion under the 15th Finance Commission, roughly USD 28 billion.
India’s approach is rooted in the Disaster Management Act of 2005, which ensures that funds are pre-determined, rule-based, and flow predictably from the national level to states and districts.
India’s Four Principles for DRR Financing
Dr. Mishra explained that India’s strategy is based on four key principles:
- Dedicated financial windows for preparedness, mitigation, relief, and recovery.
- Focus on vulnerable communities and affected populations.
- Equal access to funds at all levels: central, state, and local.
- Accountability and measurable outcomes to ensure transparency.
Need for Global Support and Cooperation
While disaster financing should be nationally owned and driven, Dr. Mishra stressed the importance of international cooperation, especially in the form of global benchmarks and financial support. He pointed out a major gap in the global financial architecture, there is no dedicated mechanism to support countries in building or improving their disaster financing systems.
India therefore proposed the creation of a global DRR financing facility, supported by the United Nations and multilateral banks, to:
- Offer catalytic funding for DRR initiatives
- Provide technical assistance
- Enable knowledge exchange between countries
He also emphasized the need to explore new financial tools like risk pooling, insurance, and innovative instruments suited to each country’s local economy and risk profile.
Moving from Intentions to Action
Dr. Mishra urged the global community to go beyond declarations and to deliver concrete results. He reaffirmed India’s commitment to lead and collaborate in building a DRR financing framework that is locally tailored and globally supported.
“A strong disaster financing system is the backbone of resilience. Let’s act now, together,” Dr. Mishra concluded.
Source: Press Information Bureau (PIB)
