Mumbai: G-20 Disaster Risk Reduction Working Group meeting to focus on risk financing

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The second meeting of the G-20 Disaster Risk Reduction Working Group (DRRWG) which will be held in Mumbai will explore innovative solutions to manage and finance disaster risks.

The three-day meeting which will begin on Tuesday will bring together different stakeholders - government officials, industry experts, private sector representatives, and other stakeholders from over 20 countries.

The aim of the meeting is to explore innovative approaches to managing disaster risk and financing for sustainable development by identifying opportunities and examining creative financing mechanisms.

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"The meeting aims to mitigate the impact of disasters on vulnerable communities," stated the press release.

The high-level deliberations at the meeting will build upon the cross-cutting theme emerging from the first DRRWG meeting "Financing for DRR", held in Gandhinagar from March 31 to April 1 this year. The meeting will address issues like establishing a national framework, incentivising private investments, and supporting disaster preparedness.

(with inputs from PTI)