On June 13th, the G7 announced support for climate affected countries and communities through new funding commitments and support towards the Risk-informed Early Action Partnership and InsuResilience Global Partnership (IGP).
A package of support, including £120 million in new funding from the UK and €125 million in new funding from Germany, will enable quicker responses for vulnerable people when extreme weather and climate-linked disasters hit. Some of these resources will be channelled to regional risk financing facilities across Africa, South East Asia, the Caribbean and the Pacific.
Partners of REAP will continue to work hard to ensure these global and regional risk pools are linked to effective early action plans and capacity on the ground. Further work on linking risk financing instruments with anticipatory action is being undertaken by IGP, REAP and the Anticipation Hub within a recently formed working group, bringing together experts from across multiple communities and organisations. This also builds on a joint event organised by IGP and REAP Secretariats in 2020.
During the weekend of G7 talks, USAID also announced that it has joined REAP to ensure early warning systems result in early actions that save lives and protect livelihoods. This is a very welcome move and we look forward to working with USAID in the coming months and years to ensure 1 billion people are safer from disaster by 2025.
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