In September 2019 during the United Nations Secretary General’s Climate Action Summit, the German Federal Ministry for Economic Cooperation and Development (BMZ), the Insurance Development Forum (IDF) and the United Nations Development Programme (UNDP) announced a commitment to increase resilience for countries vulnerable to climate change and towards realising the Vision 2025 objectives of the InsuResilience Global Partnership. For more information visit the official site: www.insuresilience.org
The partnership committed to provide funding, technical assistance and risk solutions to 20 vulnerable countries by 2025 through leveraging the strengths of the various parties and rallying global players towards a substantial scale-up in the use of risk financing mechanisms to deliver on global resilience and adaptation ambitions.
The InsuResilience Solutions Fund (ISF) is one of the vehicles through which the implementation of the joined agreement is supported.
An operational structure, the Project Coordination Unit (PCU), was established at the Frankfurt School, to facilitate the process of developing concepts for risk transfer solutions for sovereigns, sub-sovereigns and other public sector entities, as well as support project partnerships in compiling and submitting proposals for co-financing to the InsuResilience Solutions Fund.
The PCU facilitates the communication, coordination and collaboration among project partnership members when preparing a concept note or full project proposal documents for submission to the ISF.