WMO, the World Bank and its Global Facility for Disaster Risk Reduction and Recovery (GFDRR) have committed to intensify joint action in order to improve country capacities that build resilience to extreme weather events, climate and disaster impacts. The Action Plan for scaling up collaboration was signed during a meeting on 1 April between World Bank interim President Kristalina Georgieva, World Bank Vice-President Laura Tuck and WMO Secretary-General Petteri Taalas.
The Plan sets principles and defines priorities for action, including for the Climate Risk and Early Warning Systems Initiative (CREWS). It marks yet another important milestone in the evolving partnership between WMO and the World Bank, which is aimed at boosting support of national efforts to generate and use weather, climate and hydrological information for evidence-based action. The Plan will facilitate access to WMO expertise for the World Bank and countries implementing projects with World Bank funding.
According to the World Economic Forum 2019 Global Risk Report, the top global risks for humanity are weather, climate, and water related. Thus, the scaled-up collaboration between the World Bank and WMO is of major importance and in line with their respective corporate priorities. A long-term goal of the WMO Strategic Plan 2020-2023 is to close the capacity gap on weather, climate, hydrologic and related environmental services including scaling up effective partnerships.
The World Bank investments in hydromet and early warning systems are about US$ 900 million and growing. The World Bank Group Action Plan on Adaptation and Resilience commits the Bank to substantially increase financing for quality forecasts, early warning systems and climate information services in at least 30 additional countries.
The collaboration maximizes complementarity, coherence and the respective comparative advantages between the partners. To improve delivery of hydromet services in developing countries, WMO will increase the provision of quality-assured technical expertise from its institutional network. The World Bank will contribute by emphasizing in its country engagements the socioeconomic benefits of hydromet investments, providing its operational experience in strengthening hydromet services and mobilizing financing for sustainable investments.
