Dominica to implement Disaster Risk Financing Strategy to improve emergency response capacity

The strategy aims to improve Dominica's response to capacity to natural hazards, climate impacts, pandemics, health concerns, and other economic shocks.

Dominica to implement Disaster Risk Financing Strategy to improve emergency response capacity
Dominica to implement Disaster Risk Financing Strategy to improve emergency response capacity

Roseau, Dominica: Cabinet of the Caribbean country has approved the Disaster Risk Financing strategy to improve Dominica’s emergency response capacity.  Dr Vince Henderson, stated that the strategy is in effect to access, reduce and manage fiscal risk associated with the Disasters.  

The strategy aims to improve Dominica’s response to capacity to natural hazards, climate impacts, pandemics, health concerns, and other economic shocks.

Minister for Planning, economic development, Dr Vince Henderson explained the various aspects of the DRF strategy and its implications and significance. 

Dr Henderson stated that: 

  • DRF strategy aligns with the resilience strategy, approved by Cabinet in December 2020. 
  • It operationalizes the parts of financial resilience and poses us with the resilience pillars of the DRF and suppose the government’s policies to build financial resilience as a critical cornerstone to the country’s resilience agenda. 
  • The DRF strategy will strengthen data collection and management to encourage evidence-based decision-making on the prioritization of post-disaster expenditures, resilience activities, and optimization of financial instruments. 
  • It also aims to strengthen public financial management related to disasters and fosters the legal and administrative environment for sound practices in disaster risk financing. 
  • An operational framework for the procurement of insurance in the public sector and posed the disaster budget execution guidelines will also be developed. 
  • As per the implementation process, the government will introduce measures to improve fiscal protection and fiancing of post-disaster emergency response and recovery needs for financial instruments and define financing sources for the social protection system to support affected people.
  • Another strategic priority is a collaboration with the private sector to improve the availability and affordability of Catster free insurance products for the government, households, businesses, including farmers, and vulnerable groups in society. 
  • The strategy will guide the further development of financial protection production for vulnerable sectors, including agriculture, tourism, and fisheries.