UNDP steps to develop innovative insurance solutions

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UNDP launched Insurance & Risk Finance Facility to develop innovative insurance solutions for vulnerable communities

New York, 29 September 2021 (TDI): UN Development Pakistan shared the news in which they have announced the launch of the UNDP Insurance and Risk Finance Facility on its Twitter official account. They also mentioned, “it will work with the partnership to develop advanced insurance solutions for vulnerable communities”.

In the same tweet, they have also shared that UNDP Insurance and Risk Finance Facility will support UNDP in Pakistan to develop aspired Risk Insurance programming in the country. UNDP has announced this partnership to promote sustainable development and growth. These will help in developing countries that are affected by the pandemic. This will also create investment opportunities and will accelerate finance for Sustainable Development Goals.

Moreover, this program is based on global partnership and it will build long-term financial resilience and remove the global health, morality, and disaster protection gap. The objective is to drive inclusive economic growth. UNDP Pakistan has attached pictures to its tweet that explains that this program is going to create a positive impact. This will integrate Insurance into Development, Inclusive Insurance, Sovereign risk financing, natural capital and also boost insurance and investment.

Through this global partnership, they are striving to achieve 2025 major commitments i.e. 500 million poor and vulnerable people covered against disaster and climate shocks, 150M people covered by microfinance, and 80 Vulnerable Twenty (V20) groups and vulnerable countries with comprehensive disaster risk finance strategies.

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