During the opening of the three-day Pacific Regional Disaster Resilience Financing Workshop in Suva, PCRIC Board Chair Siosiua ‘Utoikamanu emphasized the critical need for Pacific Island nations to enhance their institutional and financial resilience in response to escalating natural disasters. He identified regional unity and visionary leadership as essential components in tackling this significant challenge.
In his address to senior officials, donors, and partners, Utoikamanu stated that the region’s future security relies on the strength of its partnerships, stressing that the shared vulnerabilities of the Pacific necessitate collective solutions and decisive actions. He noted that the Pacific Catastrophe Risk Insurance Company (PCRIC), established in 2016, has been instrumental in disaster risk management by providing urgent financial support to member nations in the aftermath of disasters while also cultivating long-term capabilities in climate and disaster risk financing.
Utoikamanu highlighted the importance of rapid financial assistance, explaining, “We provide rapid equity and essential cash support to member nations in the immediate aftermath of a disaster, ensuring that fiscal stability is maintained during periods of crisis.” He acknowledged that the impacts of natural disasters are very real, as they impose severe strain on national budgets, disrupt critical services, and jeopardize decades of development progress.
The workshop, supported by the Asian Development Bank, CDP, and SPC, aims to enhance regional understanding, close existing gaps, and refine disaster risk financing strategies. Utoikamanu encouraged attendees to not only gain technical knowledge but to leave with “a renewed sense of sovereign ownership,” urging them to become proactive in fostering resilience within their respective administrations.
He concluded with a call to action for Pacific leaders, stating that effective disaster risk financing depends not just on established institutional mechanisms but also on visionary leadership that transforms theoretical strategies into practical protections for communities. As the Pacific region faces an increasing frequency and cost of disasters, this workshop promises to foster essential dialogue and collaboration aimed at securing a more resilient future for all its inhabitants.
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