By Sallieu S. Kanu
The Ministry of Finance through its Fiscal Risk Management Division together with Ministries, Departments and Agencies on Monday, October 31 2023, validated the draft Disaster Risk Financing (DRF) Strategy and Implementation Plan to address disasters in the country.
A Disaster Risk Financing Strategy is an essential element that can help countries develop ways to meet the costs associated with reducing and addressing economic and social losses from various types of disasters and climate change impacts.
In his opening statement, the Principal Deputy Financial Secretary (PDFS) Samuel E.B Momoh, who Co-Chair the meeting, thanked the World Bank Team and the Disaster Risk Finance Division based in Washington D.C for their support to the Ministry of Finance in developing the Disaster Risk Financing Strategy and implementation plan.
He continued that, over the past 25 years, Sierra Leone has experienced more than 300 disaster events, of which 10 were floods. Disasters in Sierra Leone over the years, he said, presented a broad range of social, economic, fiscal and environmental impacts.
He noted that these catastrophic human and economic costs are huge, and figures would likely increase with the growing population, climate change, environmental degradation and urbanisation.
Momoh said that the financial management of these disasters has been a critical challenge, leading to diverting resources from longer-term development investment to meet immediate relief and recovery needs. Therefore, he called for a proper mechanism to be put in place to help in managing the fiscal impacts of disasters.
He mentioned that the impact of climate change in the country is increasing in frequency and severity of disasters. As the Ministry responsible for Finance, the PDFS stated that in 2020, it requested the World Bank for Technical Assistance to conduct a Crisis and Disaster Risk Finance Diagnostic (CDRF Diagnostic) to assess the country’s financial preparedness to respond to crises and disasters.
He informed the participants that the process of developing this strategy was very much inclusive, with massive input from National Disaster Management Agency (NDMA) as Co-Chair, Ministry of Planning and Economic Development, Ministry of Environment and Climate Change, Environmental Protection Agency, National Commission for Social Action (NACSA), Office of National Security(ONS), Sierra Leone Meteorological Agency, National Asset and Government Property Commission and the Sierra Leone Commission provided and assigned senior officials as Core Writing Group Members to support in developing this strategy.
The Deputy Minister of Finance II, Bockarie Kalokoh, said disaster is a cross-cutting issue that has affected the country’s economic stability and hindered development efforts.
He mentioned that the strategy would establish collaborative efforts among critical stakeholders in executing initiatives to make the government of Sierra Leone financially resilient to support households and businesses when confronted with disasters.
In addition, he said, the strategy is set to enhance recovery operations which encompasses improvement of early warning systems, expeditious allocation of funds, and empowering communities to be better prepared for future disasters.
The minister said that there are broader economic implications of disasters, including reducing agricultural productivity, damaging critical infrastructure, etc.
The Director General of the National Disaster Management Agency (NDMA), Lieutenant General (Rtd) Brima Sesay, said Sierra Leone is vulnerable to a range of natural and man-made disasters such as mudslides, floods, and fires, adding that these have caused great misery and suffering to people and the economy.
He noted that, in recent times, climate change has posed new challenges that disaster management strategies need to cope with the chances of future extreme events that would be much higher than today because of the changes in climate patterns.
He added that the government and partners must prioritise disaster preparedness, mitigation, and response mechanisms.
A representative from the Chief Minister’s Office, Dr Emmanuel Gaima, declared the workshop open and stated that the government has established and strengthened various institutions to manage disasters in the country.
He also noted that Sierra Leone, like many African countries, is prone to disaster.
The Director of the Fiscal Rish Management Division, Dr Alhassan Mansaray, did a PowerPoint presentation of the strategy.