Tuesday, August 4 2020


Asia holds regional dialogue platform on forecast-based financing

Update: June, 13/2017 - 16:07
More than 100 national and international practitioners in the field of disaster risk reduction and climate change adaptation gather in Hà Nội on June 13 to discuss forecast-based financing (FbF).— VNS Photo Thanh Hải
Viet Nam News

HÀ NỘI — More than 100 national and international practitioners in the field of disaster risk reduction and climate change adaptation gathered in Hà Nội on Tuesday to discuss forecast-based financing (FbF).

“So far, humanitarian finance is available when a disaster strikes and human suffering is almost guaranteed. However, climate-related risks are rising worldwide, and many humanitarian actions could be implemented in the window between a forecast and a disaster, and thus prevent suffering, use humanitarian funds more efficiently, and contribute to strengthened community resilience,” Nguyễn Thị Hồng An, Việt Nam Red Cross Society Vice President, said during the first Regional Dialogue Platform in Asia on FbF.

“The challenging question for governments, humanitarian actors and scientists is: Can we set up an automatic system that can trigger and fund preparedness actions before a disaster strikes when a credible warning arrives? The answer is Forecast-based Financing,” said An.

At the three-day event, participants will discuss establishing a network of FbF practitioners, governmental stakeholders and scientists in Asian high-risk countries; the existing methodology and development of a plan forward for the region; improving the FbF methodology currently under development through future feed-in of the Asian experiences; and getting the interest and support of donor agencies and policy makers.

They will also share experience and learn about an innovative humanitarian financing mechanism, which will allow for early disaster preparedness action based on improved forecast, early warning and standardised procedures in case of natural disasters.

Việt Nam is one of the countries most affected by climate change. Every year, Việt Nam has from 10 to 15 hurricanes, floods that have affected 50 per cent of  the country’s land area and 70 per cent of population.

On the other hand, the Government of Việt Nam has made remarkable progress with regard to its legislation and country-wide practical application of activities related to disaster risk reduction and climate change adaptation, together with major humanitarian actors like the Việt Nam Red Cross Society, according to An.

The First Regional Dialogue Platform on FbF in Asia will conclude with a memorandum envisaging how to take it to scale in Asia.

The conference was funded by the German Government under its Action Plan for Humanitarian Adaptation to Climate Change, in close collaboration with the German Red Cross. — VNS


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