The training on "Climate and Disaster Risk Financing", organised by UNDP in Uzbekistan jointly with the National Agency of Perspective Projects of the Republic of Uzbekistan, started in Samarkand.

The training was attended by representatives of insurance companies of Uzbekistan, the Ministry of Economy and Finance, the Ministry of Agriculture, the Association of Professional Participants of Insurance Market, the Centre of Hydrometeorological Service and international experts.

The main objective of the training is to improve the skills of the participants of the insurance market industry in Uzbekistan, both at the level of government agencies and insurance companies in the direction of financing risks associated with climate and disasters.

"NAPP welcomes and fully supports events involving international organisations and participants of insurance market in developing proposals to diversify the financing of risks associated with natural disasters and climate change. We hope that in the future the knowledge gained during the training will be applied in the process of elaborating the development strategy of insurance companies," said Davron Maksudov, the Deputy Director of the Agency, in his welcoming speech.

The training programme covers important aspects of climate and disaster risk financing, such as disaster risk financing solutions, basic principles of financing, a comprehensive financial protection strategy, as well as important elements of the operational matrix required in the design and implementation of financial protection mechanisms.

The training is conducted by UNDP expert, Prof Kamal Ahmed, who has extensive experience in building infrastructure resilience to disasters, climate change and fiscal risk assessment in critical infrastructure.

The training is organised within the framework of the UNDP global project "Introduction of Insurance and Risk Financing Mechanism in Uzbekistan", the main objective of which is to support countries-participants of the project in the development of the insurance market in Uzbekistan, including integration
of insurance policy into the country's economic development programme, development of inclusive insurance, financing of sovereign risks, risks from natural disasters, integration of additional investments in the insurance industry, etc.