At the UN Climate Action Summit 2019, WBG President David Malpass highlighted the need for better financial preparedness, introducing GRiF as a key initiative towards this goal:

"GRiF is helping to boost resilience at all levels of the economy: at the macro-level to build better buffers; at the mid-level to get firms back into action quickly; and at the micro-level to protect households, assets, and livelihoods." (Read the full transcript)

The InsuResilience Global Partnership recently unveiled its Vision 2025, which sets out the Partnership's workstreams and its aspirational results areas.

GRiF aligns with the vision and principles of the Partnership and contributes towards the goals of the Vision 2025.

Financial solutions for mitigating the macro-fiscal impacts of climate shocks and disasters remained a pressing priority for many policy makers and development partners at the UN Climate Change Conference COP 25 in Madrid, Spain in December 2019. Nearly 27,000 representatives congregated to finalize the “rulebook” of the Paris Agreement by settling on rules for carbon markets. 

On December 9, the InsuResilience Secretariat organized the 3rd InsuResilience Global Partnership Forum. The forum focused on practitioners’ experiences in implementing financial solutions in the Latin America and the Caribbean region, stock-taking of progress made in the last year, and exploring pathways for scaling up financial resilience.

The first GRiF grant was awarded in March 2019 to co-finance the Mozambique Disaster Risk and Resilience Program.

GRiF provided $6m to complement a $90m grant provided by the World Bank’s International Development Association (IDA). An additional $2m has been made available for implementation support to provide the government with specialized technical assistance.
 
The grant will strengthen the capacity of the Government of Mozambique to access and manage post-disaster financing by developing a sovereign risk transfer instrument, complementing the government’s recently established Disaster Management Fund.

More information here.

The second GRiF grant was awarded in June 2019 to co-finance the Sierra Leone Social Safety Net Project.
 
The government of Sierra Leone is moving toward pre-arranging financial solutions to more effectively manage the financial impacts that disasters and crises pose on its economy and its people. 
 
To support this effort, a $2.5m grant from GRiF will support the design of the country’s first shock-responsive safety net. To test this mechanism, the country has committed $4m in national funds to be held for use as cash transfers that can flow through the safety net after emergencies. 

More information in Sierra Leone development projects here.