INFRASTRUCTURE RESILIENCE ACCELERATOR FUND (IRAF)
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Context: The Coalition for Disaster Resilient Infrastructure (CDRI) recently announced setting up the Infrastructure Resilience Accelerator Fund (IRAF).
Details:
About:
- Allocation of $50 million to support global action to build robust infrastructure, especially in developing countries and small island developing nations, that can withstand the impacts of climate change.
- It will be a multi-donor trust fund, managed by UN Multi-Partner Trust Fund Office, New York.
- Supported by India, the UK, Australia and the EU
- IRAF’s multi-pronged programme will offer customised technical assistance, capacity building, research, knowledge management, and advocacy across the infrastructure life cycle for countries at all stages of development.
- One of the first initiatives to be supported by the IRAF is the Infrastructure for the Resilient Island States (IRIS).
Coalition for Disaster Resilient Infrastructure (CDRI):
- CDRI was launched by the Prime Minister of India, Narendra Modi at the UN Climate Action Summit in New York in 2019.
- It is a partnership of national governments, UN agencies and programmes, multilateral development banks and financing mechanisms, the private sector, and knowledge institutions.
- It aims to promote the resilience of new and existing infrastructure systems to climate and disaster risks in support of sustainable development.
- CDRI promotes rapid development of resilient infrastructure to respond to the Sustainable Development Goals’ imperatives of expanding universal access to basic services, enabling prosperity and decent work.
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