Accra, Aug. 24, GNA – A four-day capacity development training aimed at strengthening Ghana’s capacity to finance and manage the financial risks associated with climate-related disasters, particularly flooding, has commenced in the Eastern Region.
Organised by the National Disaster Management Organisation (NADMO), Ministry of Finance and the United Nations Development Programme (UNDP), the training seeks to enhance institutional knowledge and practical capacity in disaster risk financing, flood risk modelling and the management of financial protection mechanisms.
The programme, which i being held from August 24 to 27, 2026, forms part of ongoing efforts by the Government and development partners to strengthen Ghana’s disaster risk financing architecture and improve the country’s financial preparedness for climate-related disasters.
Speaking at the opening of the training on behalf of the Ministry of Finance, Mr Richard Ofori Addo, Chief Economic Officer, said the initiative had come at a critical time as the frequency and severity of climate-related disasters continued to increase globally and in Ghana.
He said flooding remained one of the major threats to lives, livelihoods, infrastructure and economic activities, while the financial consequences placed significant pressure on public resources.
Mr Ofori Addo said disasters often created unplanned fiscal obligations for emergency response, recovery and reconstruction, making disaster risk financing an important component of prudent fiscal management and sustainable economic development.
He said strengthening the country’s capacity to anticipate, manage and finance disaster-related risks was essential to protecting public finances and safeguarding Ghana’s development gains.
Mr Ofori Addo described the Accra Flood Risk Financing Solution as an important milestone towards improving the country’s preparedness and financial resilience against flood-related disasters.
He said the initiative was expected to generate reliable risk information and strengthen analytical capacity to enable government institutions to better assess their fiscal exposure to disasters.
“It will also support the identification and development of appropriate financial protection mechanisms, including contingency financing arrangements and insurance solutions, to reduce the financial burden of future disasters,” he said.
Mr Ofori Addo emphasised the need for sustained collaboration among government institutions, technical agencies and development partners to build an effective disaster risk financing framework.
He urged participants to actively engage in the training, share experiences and identify practical measures to support the successful implementation and sustainability of the initiative.
He expressed the Finance Ministry’s appreciation to NADMO and UNDP for their continued support towards Ghana’s resilience agenda.
Dr Amina Sammo, National Coordinator of the Insurance and Risk Finance Facility at UNDP Ghana, said disaster risk financing was not merely a financial instrument but a critical tool for sustainable development.
She said millions of people remained vulnerable to disasters, noting that a single flood, failed harvest or other shock could wipe out years of economic progress for families and communities.
Dr Sammo said resilience required sound institutions, effective policies, reliable data, early warning systems and financial mechanisms that enabled individuals and governments to recover more quickly from crises.
She identified disaster risk financing as a key tool for protecting livelihoods, supporting small businesses, enabling farmers to invest with greater confidence and helping governments manage fiscal risks more effectively.
She said UNDP, through its Insurance and Risk Finance Facility, was working with countries globally to strengthen financial resilience through innovative insurance and risk financing solutions.
Professor Issahaku Haruna of the Department of Finance, School of Business, University for Development Studies (UDS), Tamale, who facilitated the training, said Ghana needed to strengthen its capacity to finance disaster risks before disasters occurred.
He explained that disaster risk financing ensured that the necessary financial resources were available before disasters struck, enabling faster and more effective response and recovery.
Prof. Haruna stressed that disaster risk financing did not replace emergency response mechanisms but complemented them by ensuring that adequate resources were available to support response and recovery efforts.
He said strengthening disaster risk financing would enable Ghana to better manage the financial implications of its evolving hazard profile and build greater resilience to future shocks.
The training was attended by representatives of 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).
GNA
Edited Kenneth Odeng Adade