What is the news?
The 27-member European Union joins the Coalition for Disaster Resilient Infrastructure (CDRI) initiative.
About Coalition for Disaster Resilient Infrastructure(CDRI) Initiative:
- Firstly, Prime Minister of India launched it in 2019 at the UN Climate Change Summit.
- Secondly, it is a multi-stakeholder global partnership of national governments, UN agencies, multilateral development banks, private sector, academic and knowledge institutions.
- Thirdly, it aims to promote the resilience of new and existing infrastructure systems to climate and disaster risks. It also supports sustainable development.
- Fourthly, Governing Council: The Governing Council is the highest policy-making body of the CDRI. It is co-chaired by India and a representative of another nation, nominated by rotation every two years.
- Fifthly, funding: A large share of the fund over the first five years has been invested by India. There are no obligations on the part of members to make financial contributions to CDRI. However, at any point, members of the CDRI may make voluntary contributions.
- Lastly, Secretariat: New Delhi, India.