Risk investment programming (RIP) is a financial mechanism for disaster mitigation, preparedness and response that would cover state and private sector assets. Given that disaster risks are increasing in urban areas due to the effects of climate change and rapid urbanization, the impacts of a major disaster event negates economic gains from years of development efforts. RIP creates a roadmap for the implementation of disaster risk management (DRM) strategies at the local and national level by guiding government officials in identifying areas of investment.
Risk Investment Programming benefits DRM in institutions through:
- Facilitating the implementation of DRM plans, programs and activities that adhere to national laws and follow international standards of practice;
- Legitimizing local political structures by providing opportunities for decentralized competencies and optimization of resources;
- Adapting a multi-stakeholder collaboration between government agencies, the private sector, academe, NGOs and the civil society to ensure commitment and fostering strategic planning;
- Creating an enabling environment to facilitate project planning, procurement, monitoring and evaluation through institutional arrangements; and
- Assuring investors with anticipation of fewer disaster losses which leads to increasing private investment (homes, buildings, and other properties), business opportunities, employment, and economic growth.
Our investment programming is anchored on three pillars of urban disaster resilience: (i) effectively respond to urban disaster, (ii) reinforce existing infrastructure, and (iii) ensure resilient construction. These long-term investments are built on knowledge established on our competencies such as Legal and Institutional arrangements for DRM, Risk-Sensitive Land Use Planning, Emergency Management, and Hazard, Vulnerability, Capacity and Risk Assessment.
EMI is involved in the Bangladesh Urban Resilience Project (URP), an initiative commissioned by the World Bank in partnership with Global Facility for Disaster Reduction and Recovery (GFDRR) and the Government of Bangladesh. The Project involves a series of investments that aims to increase the urban disaster preparedness of the cities of Dhaka and Sylhet in Bangladesh. The first of the series focuses on the development of Emergency Management System. These investments seek to support and build the capacity of city-level actors who play critical roles in the effort to develop urban resilience in the two cities.
DRM frameworks have shifted from reactive to a more proactive approach in disaster management. There is a need to invest on prevention, mitigation, and preparedness measures. Given its political and economic incentives, it is very critical to integrate risk investment programming to DRM.
United Nations International Strategy for Disaster Reduction (UNISDR). Making Cities Resilient: My City is Getting Ready. Retrieved from http://www.unisdr.org/files/26462_3.chapitre1.pdf