ADB, Norway to provide $5mn, to strengthen Pakistan disaster management

• The funds would further strengthen financing for natural disaster risk reduction and preparedness in the country.
• NDRMF was approved in 2016 to provide support in the immediate aftermath of disasters and to invest in disaster mitigation projects in Pakistan.

The Asian Development Bank (ADB) has signed an agreement with the Royal Norwegian Embassy in Pakistan to expand support for the National Disaster Risk Management Fund (NDRMF).

Under the agreement, the Government of Norway will provide $5 million to NDRMF from the unused resources of the Pakistan Earthquake Fund. The funds would further strengthen financing for natural disaster risk reduction and preparedness in the country.

As per ADB, Norway’s assistance for NDRMF will be administered by the bank.

NDRMF was approved in 2016 to provide support in the immediate aftermath of disasters and to invest in disaster mitigation projects in Pakistan. ADB provided the initial financing through a $200 million loan while the Government of Australia contributed a $3.4 million grant. In 2018, the Swiss Agency for Development provided a $1.5 million grant and technical assistance via the secondment of disaster risk finance experts.

NDRMF was established to finance projects aimed at mitigating disaster risks, while also developing and piloting disaster risk financing instruments in Pakistan for fiscal risk transfer.

Norway has offered significant financial and technical support to Pakistan, following the heavy floods which devastated large parts of Pakistan in 2010 and 2011, Norway provided more than $56.4 million in aid for flood-affected families and to restore basic services.