 "Dollar")
The United States on Friday announced funds up to USD 9.2 million to support the global Coalition for Disaster Resilient Infrastructure (CDRI), a fund that was launched by Prime Minister Narendra Modi in 2019.
Subject to Congressional approval, the US commitment is aimed at fostering disaster and climate resilient infrastructure, said the Acting United States Agency for International Development (USAID) Administrator Gloria D Steele at the International Conference on Disaster Resilient Infrastructure.
Formally launched by India in September 2019 at the United Nations Climate Action Summit in New York, CDRI is a unique global climate initiative involving the private sector, governments, and multilateral agencies, USAID said.
Physical infrastructure, such as roads, airports, and power grids is integral to a country's development, resilience, and ability to reduce the risk of disasters and respond to them. Yet, such infrastructure is highly vulnerable to climate change and disasters. CDRI is prioritising investments in disaster and climate resilient infrastructure to mitigate and adapt to climate change impacts, a media release said.
The international development agency said it will support CDRI to develop and share innovations, policy recommendations, and best practices in developing disaster and climate resilient infrastructure worldwide.
Also Read
It will also help countries incorporate best practices into their infrastructure planning, as well as foster partnerships between governments and the private sector to scale up disaster and climate resilient infrastructure development, USAID said.
CDRI currently comprises the governments of Afghanistan, Argentina, Australia, Bhutan, Chile, Fiji, France, Germany, India, Italy, Jamaica, Japan, Maldives, Mauritius, Mongolia, Nepal, Netherlands, Peru, Sri Lanka, Turkey, United Kingdom, and the United States.
Multilateral organisations including the European Union, United Nations, the World Bank, and the Asian Development Bank; and two private sector associations representing more than 400 companies are also part of it.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
