CONSULTATION REPORT ON MAINSTREAMING DRR IN FINANCIAL INSTITUTIONS AND MECHANISMS AT NEW DELHI : 28th JUNE, 2016
Disaster preparedness and response is exceptionally important in the context of financial inclusion. Countries with higher concentrations of poverty, weak infrastructure, and poor public services are more at risk. Experience has shown that financial institutions serving at-risk populations are as vulnerable as their clients to these disasters and crises. While the initial humanitarian and emergency response to crisis is crucial, there is a growing recognition of the value of disaster risk reduction (DRR) strategies in preparing for and thus reducing economic losses associated with disasters.
As part of this, SEEP Network, in collaboration with Sphere India, organized a Consultation on Mainstreaming DRR in Financial Institutions and Mechanisms at India Habitat Centre, New Delhi on June 28th, 2016. This meeting, made possible with the support of the Citi Foundation, is intended to bring together the various Government and Non-Government actors engaged in the area of DRR, micro finance and other financial mechanisms to better understand the challenges faced by the microfinance providers and their low income clients, as well as opportunities for collaboration across the range of market actors to increase the resiliency in times of crisis.
There were two primary objectives of the consultation. The first was to bring together diverse stakeholders with vested interest in initiating a process for mainstreaming DRR into financial institutions and mechanisms. The second objective was to gain input on the proposed methodology for a risk mapping and diagnostic analysis in India to ensure the results are meaningful and relevant to a wide range of actors in the market.
The Opening Remark to the consultation was given by Mr. Vikrant Mahajan, CEO, Sphere India and Ms. Deena Burjorjee, SEEP Network, welcoming the key panelists and participants. The participants included representatives from Government of India, National NGOs, INGOs and UN agencies working in India. Featured panelists included Prof. Anil Gupta from NIDM (Government), Mr. G. Padmanabhan from UNDP (United Nations Development Programme), Mr. Palash Shrivastav from IDFC (Private Sector) and Mr. Suvi Aruliah from World Vision India (Micro Finance). The program was also attended by Mr. Sanjay Kumar Singh from NDMA.
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