CDRI announces Infrastructure Resilience Accelerator Fund (IRAF), a US$50 Million Trust Fund to support global action on Disaster Resilience of Infrastructure Systems
Infrastructure Resilience Accelerator Fund (IRAF), CDRI Multi-Partner Trust Fund, a dedicated international multi-donor trust fund has been launched on 09 November 2022 at the India Pavilion at COP27, Sharm El Sheikh, Egypt.
IRAF, established with the support of UNDP and UNDRR, will be managed by the United Nation Multi-Partner Trust Fund Office (UN MPTFO), New York, to support global action on disaster resilience of infrastructure systems, especially in developing countries and Small Island Developing States (SIDS).
IRAF will enable CDRI to achieve its mandate of resilience through risk informed investments and infrastructure development resulting in reduced vulnerability of populations and reduced impact of extreme events and disasters on infrastructure systems.
To promote the resilience of new and existing infrastructure systems, IRAF will play a critical role in equipping the Coalition to deliver on improved infrastructure governance, inclusive infrastructure services and diversified knowledge and financing for resilient infrastructure globally.
With an initial duration of five years, around US$50 million in financial commitments have already been announced and more are expected in the coming months. So far, commitments have been made by the Governments of India, the United Kingdom, Australia and the European Union for the next five years.
The focus of IRAF will be on technical assistance, capacity building, research and knowledge management for resilient infrastructure, including energy, transportation, telecommunication, health, urban and other basic and social infrastructure.
One of the first initiatives to be supported by IRAF is the Infrastructure for Resilient Island States (IRIS).