The Somali Disaster Management Agencyโs (SoDMA) Commissioner, Mohamud Moallim, concluded a productive meeting focused on the financing processes for disaster management projects in the country. This event was organized by the Ministry of Finance and was facilitated by the World Bank in Mogadishu.
During the meeting, the discussion centered on the Catastrophe Deferred Draw Down Option (Cat-DDO) system, which enables the Somali government to quickly respond to emergencies by directing funds through the national financial system.
A presentation discussed the Disaster Risk Finance Diagnostic report, which outlines a proactive approach to annually insuring Somali assets against climate change risks.
