MCR2030 cities and service providers discuss opportunities for financing local level resilience at the European Urban Resilience Forum
The MCR2030 Disaster Risk Financing Roundtable brought together over 100 participants to learn about experiences and opportunities for financing local level resilience plans.
Moderated by Mr. Stanislav Kim from UNDP, the roundtable brought together representatives from MCR2030 cities and municipalities, banks, the insurance sector, and development institutions to exchange on experiences and opportunities for driving investments and finance towards local level resilience building.
The roundtable kicked off the half-day segment of events focused on investments and financing for resilience during the 10th anniversary of the European Urban Resilience Forum 2023 in Cascais, Portugal, setting the scene for subsequent sessions focused on practical solutions for project development and implementation.
Local government representatives from the MCR2030 member cities and municipalities of Lviv (Ukraine), Cahul Rayon (Moldova), Kraljevo (Serbia), the Central Bosnian Canton (Bosnia & Herzegovina), and Greater Manchester (UK) shared first-hand experiences and insights on the opportunities and challenges they face in accessing the necessary resources and capacities to deliver local level resilience building plans.
Insurance and private sector representatives from Howden Group and Arup, as well as representatives from the Council of Europe Development Bank and the Gap Fund-GCOM Partnership, outlined some of the services, tools, funds, and instruments available for holistically and inclusively supporting local governments to access resources and finance for implementing their resilience plans.
Participants reflected on the importance of risk-informing all investments to ensure that existing risks are managed and mitigated, and to avoid the creation of new risks. This requires holistic and inclusive engagement of different sectors, communities, and governments across different levels.
In his concluding remarks, Mr. Kim noted:
The diversity of potential financial products is immense, but cities and municipalities face a multitude of challenges in making use of them. By connecting diverse stakeholders with local governments in engagements such as today, we can bridge gaps, break siloes and bottlenecks, and help local authorities to identify and access the solutions and resources they need to finance their resilience plans.
