Accra: Organised by the National Disaster Management Organisation (NADMO), Ministry of Finance, and the United Nations Development Programme (UNDP), a new training initiative aims to enhance institutional knowledge and practical capacity in disaster risk financing, with a focus on flood risk modelling and financial protection mechanisms. The programme, held from August 24 to 27, 2026, represents ongoing efforts by the Government and development partners to fortify Ghana's disaster risk financing framework and bolster the country's financial readiness for climate-related disasters.
According to Ghana News Agency, Mr Richard Ofori Addo, Chief Economic Officer, speaking on behalf of the Ministry of Finance at the training's opening, emphasized the initiative's timeliness given the increasing frequency and severity of climate-related disasters globally and in Ghana. Flooding, he noted, poses significant threats to lives, livelihoods, infrastructure, and economic activities, placing considerable pressure on public resources. Mr. Ofori Addo highlighted that disasters often lead to unplanned fiscal obligations for emergency response, recovery, and reconstruction, making disaster risk financing a crucial aspect of prudent fiscal management and sustainable economic development.
He further explained that enhancing the country's capacity to anticipate, manage, and finance disaster-related risks is vital for protecting public finances and ensuring Ghana's development gains. The Accra Flood Risk Financing Solution, he described, marks an important step towards improving the country's preparedness and financial resilience against flood-related disasters. This initiative is expected to generate reliable risk information and strengthen analytical capacity, enabling government institutions to better assess their fiscal exposure to disasters.
Mr. Ofori Addo also emphasized the need for ongoing collaboration among government institutions, technical agencies, and development partners to establish an effective disaster risk financing framework. He encouraged participants to actively engage in the training, share experiences, and identify practical measures to support the initiative's successful implementation and sustainability. He expressed gratitude from the Finance Ministry to NADMO and UNDP for their continued support of Ghana's resilience agenda.
Dr Amina Sammo, National Coordinator of the Insurance and Risk Finance Facility at UNDP Ghana, noted that disaster risk financing is not merely a financial instrument but a critical tool for sustainable development. She highlighted the vulnerability of millions to disasters, where a single flood or failed harvest could negate years of economic progress for families and communities. Dr. Sammo stressed that resilience requires sound institutions, effective policies, reliable data, early warning systems, and financial mechanisms that enable swift recovery from crises.
She identified disaster risk financing as essential for protecting livelihoods, supporting small businesses, enabling confident investment by farmers, and helping governments manage fiscal risks more effectively. Dr. Sammo added that UNDP, through its Insurance and Risk Finance Facility, collaborates with countries worldwide to strengthen financial resilience through innovative insurance and risk financing solutions.
Professor Issahaku Haruna from the Department of Finance, School of Business, University for Development Studies (UDS), Tamale, who facilitated the training, underscored the importance of strengthening Ghana's capacity to finance disaster risks before they occur. He explained that disaster risk financing ensures the availability of necessary financial resources before disasters strike, allowing for faster and more effective response and recovery. Prof. Haruna clarified that disaster risk financing complements emergency response mechanisms by ensuring adequate resources are available to support response and recovery efforts, enabling Ghana to manage financial implications of its evolving hazard profile and build greater resilience to future shocks.
The training was attended by representatives from various Ministries, Departments, and Agencies (MDAs), NADMO, the National Insurance Commission (NIC), Ghana Statistical Service (GSS), National Development Planning Commission (NDPC), and Metropolitan, Municipal, and District Assemblies (MMDAs) within the Greater Accra Metropolitan Area (GAMA).