CDRI announces Infrastructure Resilience Accelerator Fund at COP27

Around $50 mn in financial commitments have already been announced for IRAF

The Coalition for Disaster Resilient Infrastructure (CDRI) on Wednesday announced the Infrastructure Resilience Accelerator Fund (IRAF), a CDRI multi-partner trust fund during the India Pavilion, at the 27th session of the Conference of the Parties (COP27) at Sharm El-Sheikh in Egypt.

Talking about the role of IRAF, Amit Prothi, director general, CDRI said “We believe that IRAF will enable CDRI to achieve its mandate of resilience through risk-informed investments and infrastructure development resulting in the reduced vulnerability of populations and reduced impact of extreme events and disasters on infrastructure systems”.  

IRAF, a multi-donor trust fund, established with the support of the United Nations Development Programme (UNDP) and United Nations Office for Disaster Risk Reduction (UNDRR), will be managed by the United Nations Multi-Partner Trust Fund Office (UN MPTFO) to support global action on disaster resilience of infrastructure systems, especially in developing countries and Small Island Developing States (SIDS). 

Around $50 million in financial commitments have already been announced for IRAF over an initial duration of five years. 

Supported by the Governments of India, the United Kingdom, Australia, and the European Union, IRAF’s multi-pronged program focus will offer customised technical assistance, capacity building, research, knowledge management, and advocacy across the infrastructure life cycle for countries at all stages of development. 

Ken O’Flaherty, COP26 Regional Ambassador for Asia/Pacific, Caribbean and Small Island Developing States, Foreign, Commonwealth & Development Office-Cabinet Office COP26 Unit shared “SIDS are among the most vulnerable countries exposed to disaster and climate risks.” 

O’Flaherty added, the UK is pleased to have worked closely with CDRI and other partners in establishing the trust fund. The launch today is a welcome and important step towards delivering activities and ensuring impacts on the ground.

CDRI was launched by the Prime Minister of India, Narendra Modi at the UN Climate Action Summit in New York in 2019. CDRI promotes the rapid development of resilient infrastructure to respond to the Sustainable Development Goals’ imperatives of expanding universal access to basic services and enabling prosperity. 

The Hon Pat Conroy MP, Australia’s Minister for International Development and the Pacific, said, “there has never been a more important time to focus on resilient infrastructure than now”. 

IRAF will play a crucial role in equipping the Coalition to deliver improved infrastructure governance, inclusive infrastructure services, diversified knowledge, and financing for resilient infrastructure globally. One of the first initiatives to be supported by the IRAF is the Infrastructure for the Resilient Island States (IRIS).