A partnership for accelerated disaster recovery in high risk countries (Version 1.0).
Natural hazards pose a growing threat to developing countries that lack financial or material resources to mitigate their risks to catastrophes or recover from the effects. International aid is generously made available once a country is hit by a disaster. But when the humanitarian assistance phase is completed, affected countries have difficulty accessing funds for recovery interventions before longer-term reconstruction and development programs can commence. To bridge this gap, the Global Facility for Disaster Reduction and Recovery (GFDRR) established a global disaster recovery fund - the Standby Recovery Financing Facility (SRFF). The SRFF supports GFDRR’s mandate to serve as the leading partnership under the International Strategy for Disaster Reduction (ISDR) system to reduce vulnerability to disasters in support of the Hyogo Framework for Action. SRFF is structured to fast-track the distribution of predictable and effective disaster recovery resources and catalyze coherent and coordinated international assistance by the UN, World Bank, international financial institutions (IFIs), and other stakeholders to reduce risk and accelerate the transition from relief to development.