Options to strengthen disaster risk financing in Pakistan

The options presented in this paper were developed at the request of the Government of Pakistan (GoP) to contribute to the country's disaster resilience and overall sustainable development. They are in line with Pakistan@100: Shaping the Future which detailed essential elements of sustainable growth for Pakistan including with disaster risk financing among them. They aim to comprehensively address financial resilience of Pakistan to natural disasters and increase access of the country to immediate and long-term financial resources in the aftermath of a disaster. The objective of this paper is to generate consensus on key priorities for the first national Disaster Risk Financing Strategy of Pakistan. The options presented are not exhaustive and are to be complemented with further options and potentially additional disaster risk financing instruments within an evolving strategy. This will facilitate transition towards the implementation of appropriate instruments as the associated systems and processes are set in place. The identified options were presented for consideration of the GoP during the National Consultation on Disaster Risk Finance in July 2019. The Disaster Risk Financing Strategy and implementation plan will be developed by the National Disaster Risk Management Fund (NDRMF) in coordination with the GoP leveraging this paper.