Source: The post is based on the article “CDRI announces Infrastructure Resilience Accelerator Fund at COP27” published in Business Standard on 10th November 2022.
What is the News?
The Coalition for Disaster Resilient Infrastructure(CDRI) has announced the launch of Infrastructure Resilience Accelerator Fund(IRAF) at the 27th session of the Conference of the Parties (COP27) at Sharm El-Sheikh in Egypt.
What is Infrastructure Resilience Accelerator Fund(IRAF)?
IRAF is a multi-donor trust fund launched by CDRI with the support of the United Nations Development Programme (UNDP) and the United Nations Office for Disaster Risk Reduction(UNDRR).
Purpose: To support global action on disaster resilience of infrastructure systems, especially in developing countries and Small Island Developing States(SIDS).
– The fund will offer customized technical assistance, capacity building, research, knowledge management, and advocacy across the infrastructure life cycle for countries at all stages of development.
Supported by: Governments of India, the United Kingdom, Australia and the European Union.
Managed by: The fund will be managed by the United Nations Multi-Partner Trust Fund Office (UN MPTFO).
Significance: The fund will play a crucial role in equipping the coalition to deliver improved infrastructure governance, inclusive infrastructure services, diversified knowledge, and financing for resilient infrastructure globally.
Note: One of the first initiatives to be supported by the IRAF is the Infrastructure for the Resilient Island States(IRIS).
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