The United Nations Development Programme (UNDP) recently organized a comprehensive workshop on Climate and Disaster Risk Financing (CDRF) that brought together participants from key institutions, including the Ministry of Finance in both the Mainland and Zanzibar, the Prime Minister's Office Disaster Management Department (DMC), Disaster Management Commission (DMC) Zanzibar, Ministry of Blue Economy Zanzibar, Tanzania Meteorological Authority (TMA), Tanzania Insurance Regulatory Authority (TIRA), and the Vice President's Office Environment Division. The primary goal of the workshop was to enhance the capacities of various ministries to play a crucial role in shaping climate adaptation and risk mitigation policies and strategies at both national and local levels.

The workshop had a dual focus: first, it aimed to raise awareness about the significance of Climate and Disaster Risk Financing (CDRF) in the context of development and financial resilience; second, it sought to empower decision-makers by deepening their understanding of CDRF, enabling them to make informed choices regarding climate adaptation and risk mitigation. The training provided participants with a comprehensive grasp of essential CDRF concepts and equipped them with the necessary data and financial tools. By emphasising the value of CDRF, the workshop aimed to broaden perspectives on the global landscape of insurance and risk finance.

This initiative aligns with UNDP's global commitment to the 2030 Agenda for Sustainable Development and its 17 Sustainable Development Goals (SDGs). In 2022, UNDP Tanzania became a part of the Insurance and Risk Finance Facility (IRFF), a flagship initiative within the Sustainable Finance Hub. The IRFF focuses on inclusive insurance, sovereign risk financing, and collaborations with the private sector, with the goal of involving the Tanzanian government in climate change, economic growth, and poverty reduction through risk finance and insurance.