Disaster Risk Reduction Program
The Citi Foundation is committed to economic development and financial inclusion of individuals and families, especially in communities where the bank is present, so that they can improve their standard of living. Globally, the Citi Foundation establishes its strategic objectives and priority areas: Financial Education, Microfinance, Entrepreneurship and Youth Training. Additional information can be found at www.citifoundation.com
A leading global financial services company, Citi has approximately 200 million accounts and does business in more than 160 countries and jurisdictions. Citi offers individuals, corporations, governments and institutions a broad range of financial products and services, including banking and consumer finance, corporate banking and investment, brokerage and asset management. For more information, visit www.citi.com
Disaster Risk Reduction Program
Disaster preparedness and response is exceptionally important in the context of financial inclusion. Countries with higher concentrations of poverty, weak infrastructure, poor public services are more at risk. Experience has shown that financial institutions serving at-risk populations are as vulnerable as their clients to these disasters and crises. While the initial humanitarian and emergency response to crisis is crucial, there is a growing recognition of the value of disaster risk reduction (DRR) strategies in preparing for and thus reducing economic losses associated with disasters.
What does the DRR Program hope to achieve?
The goal of the DRR Program is to improve the resiliency of financial service providers serving vulnerable populations as well as the communities they serve. The program aims to create awareness of the need for disaster preparedness in financial services markets and to build a general consensus among key stakeholders around effective disaster risk reduction practices. As a result, the program will strengthen the capacities of financial service providers and their clients to anticipate, cope, and recover from the negative impacts of disasters.
How will the DRR program work?
- Convene highly visible multi stakeholder forums representing a cross section of public and private sector organizations to raise awareness around the need for disaster preparedness in financial markets serving the poor.
- Document existing good practices, programs and organizationsworking at the local level to promote resiliency and mitigate disaster related systemic risks for FSPs and their clients.
- Facilitate national dialogues around a DRR framework for analyzing and preparing for disaster related risks to financial service markets. This process encourages coordination between FSPs, humanitarian organizations, private sector (MNOs, payment providers) and government.
- Develop a tool for assessing FSP resilience and ability to work with humanitarian organizations in times of crisis to spur greater coordination and potential partnerships between humanitarian organizations and FSPs.
This program has been co-designed and is funded by the Citi Foundation. The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. They invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities. The Citi Foundation's "More than Philosophy" approach leverages the enormous expertise of Citi and its people to fulfill its mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.
DRR Steering Committee
- Syed Mohsin Ahmed, Pakistan Microfinance Network (PMN)
- Thea Anderson, Mercy Corps
- David Bartocha, GIZ
- Mayada El-Zoghbi, CGAP
- Jesse Fripp, Aga Khan Agency for Microfinance
- Anne Hastings, Uplift
- Laura Meissner, USAID/OFDA
- Roland Pearson, Enclude
- Beth Porter, UNCDF
- Sahar Tieby, Sanabel - The Microfinance Network of Arab Countries
- Yoann Tuzzolino, International Rescue Committee
- Ziad Ayoubi, United Nations High Commission of Refugees (UNHCR)