PK Mishra, Principal Secretary to the Prime Minister had addressed the Ministerial Roundtable on Disaster Risk Reduction (DRR) Financing at Geneva on 4th June

Recognizing the need for diverse financial instruments beyond public finance, he noted that mechanisms such as risk pooling, insurance, and innovative financial tools should be developed in alignment with local affordability and fiscal sustainability

Geneva: P. K. Mishra, Principal Secretary to the Prime Minister, underscored that Disaster Risk Reduction (DRR) financing is not a peripheral issue but central to the effective functioning of national disaster management systems and the safeguarding of development gains in the face of rising climate and disaster risks.

He had addressed the Ministerial Roundtable on Disaster Risk Reduction (DRR) Financing at Geneva on 04th June 2025.

Recognizing the need for diverse financial instruments beyond public finance, he noted that mechanisms such as risk pooling, insurance, and innovative financial tools should be developed in alignment with local affordability and fiscal sustainability

Reaffirming India’s belief that a strong and responsive DRR financing architecture is a cornerstone of resilience, he commended the UNDRR and its partners for convening this critical discussion.

India also recognized the contributions of Brazil and South Africa in continuing the global dialogue through their G20 presidencies.

Highlighting India’s journey in DRR financing, he noted that initial allocations by early Finance Commissions amounted to Rs 60 million (approximately USD 0.7 million). Today, the cumulative outlay under the 15th Finance Commission exceeds INR 2.32 trillion (approximately USD 28 billion).

Mishra emphasized the importance of pre-determined, rule-based allocations flowing from national to state and district levels, supported by the Disaster Management Act of 2005. He said that this transformation ensured that disaster financing is structured and predictable rather than reactive.

Outlining India’s DRR financing approach built on four key principles, Mishra said first, dedicated financial windows for preparedness, mitigation, relief, and recovery.

Second, prioritization of the needs of affected people and vulnerable communities.

The third, accessibility of financial resources across all government levels—central, state, and local. Fourth principle being accountability, transparency, and measurable outcomes guiding all expenditures.

Mishra stressed that disaster risk financing must be nationally owned and driven, complemented by international cooperation. While each country must tailor its system to its governance framework, fiscal context, and risk profile, global benchmarks and guidance remain essential.

At the global level, Mishra identified a crucial gap: the absence of a dedicated international financial mechanism to support the establishment and strengthening of DRR financing systems. He called for the creation of a global facility, backed by the UN system and multilateral financial institutions, to provide catalytic funding, technical assistance, and a platform for knowledge exchange.

India urged the Ministerial Roundtable to move beyond statements of intent and toward concrete, time-bound outcomes.

Mishra reaffirmed India’s commitment to leadership and collaboration in developing a nationally driven yet internationally supported DRR financing framework.