 Financing held in Geneva on June 4, 2025, Dr. P.K. Mishra, Principal Secretary to the Prime Minister of India){kind=link}
JUNE 06: At the Ministerial Roundtable on Disaster Risk Reduction (DRR) Financing held in Geneva on June 4, 2025, Dr. P.K. Mishra, Principal Secretary to the Prime Minister of India, called for the creation of a global facility that would offer catalytic funding, technical support, and knowledge sharing to strengthen DRR financing systems worldwide.
Commending the UNDRR and its partners for facilitating this crucial dialogue, Dr. Mishra also appreciated the continued momentum under the G20 presidencies of Brazil and South Africa. He emphasized that DRR financing is not a side issue—it lies at the heart of disaster preparedness and sustainable development, especially in the face of rising climate risks.
Sharing India’s experience, he noted the country’s remarkable journey in DRR financing. From a modest start of INR 60 million (around USD 0.7 million) during earlier Finance Commissions, India now operates one of the world’s largest nationally anchored DRR systems, with the 15th Finance Commission allocating INR 2.32 trillion (approximately USD 28 billion).
Dr. Mishra highlighted India’s rule-based disaster financing framework, enabled by the Disaster Management Act, 2005, which ensures predictable, structured fund flow from the central to the state and district levels.
India’s DRR financing model is built on four principles:
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Dedicated funding for mitigation, preparedness, relief, and recovery;
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Focus on the needs of vulnerable communities;
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Accessibility of funds across all levels of government;
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Accountability and transparency with measurable impact.
He stressed that while disaster financing must be nationally owned and customized to each country’s context, it must also be complemented by global cooperation. He advocated the development of diverse financial instruments such as insurance, risk pooling, and innovative funding mechanisms tailored to local affordability.
Dr. Mishra identified a major global gap: the lack of a centralized international facility to support DRR systems. He urged the international community to go beyond intentions and take concrete, time-bound steps.
Reiterating India’s leadership and commitment, Dr. Mishra concluded by calling for inclusive and resilient financing frameworks that are locally driven but globally supported—ensuring collective preparedness for an increasingly risk-prone world.