NDRMF inks Rs1.6bn deal with GB govt

ISLAMABAD: National Disaster Risk Management Fund (NDRMF) has signed two grant implementation agreements for extending grant financing up to  Rs746.587 million to the Government of Gilgit Baltistan (GB) for the projects related to Rescue services and Flood Protection.

The agreements’ signing ceremony was held at NDRMF Office Islamabad on Thursday.

The duration of the projects are as follows: 12 months for Rescue 1122 Services and 18 months for Flood Protection in which various interventions shall be carried out including; Strengthening GB Rescue Services via the provision of fire and water vehicles, ambulances, fire motorbikes, rescue/recovery vehicles, etc., and Flood Protection Works.

The projects are being undertaken in all 10 districts of GB and are aimed to better protect and make communities resilient to the negative impacts of multiple hazards.

The proposed interventions are in line with the National Disaster Management Plan (NDMP).

The total cost of the Projects is approximately PKR 1,066.559 million amongst which NDRMF shall contribute grant financing amounting to PKR 746.587 million (PKR 245.035 million for Strengthening GB Rescue Services and PKR 501.552 million for Flood Mitigation) which comes upto 70% of the total projects cost.

Earlier, NDRMF had also partnered with various Government and Non-Government entities for extending its grant financing to their projects which are focusing on disaster risk reduction and preparedness.

NDRMF is committed for reducing the socioeconomic and fiscal vulnerability of the country & its population to natural hazards and climate change, through financing investments in disaster risk reduction and preparedness that have high economic impacts.

NDRMF has also put in place, a strong monitoring framework to ensure that all the funded projects are implemented in an effective and transparent manner, thereby reducing disaster risks and protecting the local population from disasters.