Monday, October 15, 2018 | ePaper

Muhith to attend Commonwealth finance ministers' meeting today

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Business Desk :
Finance Minister Abul Maal Abdul Muhith will attend the Commonwealth finance minister level meeting in Bali today (Thursday).
Finance ministers of 53 Commonwealth member states will take part in the meeting where they likely to discuss financing solutions to help assess the risk of natural disasters of these countries.
The meeting will be held on the sidelines of the International Monetary Fund (IMF) and the World Bank annual meetings 2018 at Bali Nusa Dua Convention Centre tomorrow.
Besides, World Bank Group President Dr Jim Yong Kim will meet Finance Minister Muhith at Hotel Westin Bali tomorrow.
Officials said Muhith will also hold meeting with Indonesian Finance Minister Mulyani Indrawati, World Bank South Asia Regional Vice President Hartwig Schafer, Executive Vice President and CEO of MIGA Honda and IMF Regional Vice President Snezana Stoiljkovic, and attend a lunch to be hosted by the Executive Director of the World Bank on the same day.
According to the Commonwealth and the Annual Meetings 2018 organisers, the Commonwealth Finance Ministers' meeting under the theme 'Enhancing national capacity to reduce disaster risk' will consider Commonwealth proposals, including an online portal to simplify access to disaster finance and placing long-term advisors in member countries to develop funding applications for disaster risk management.
The ministers will also discuss Commonwealth work on defining and measuring vulnerability.
The meeting will feature a keynote address by Special Representative of the UN Secretary-General on Disaster Risk Reduction Mami Mizutori.
"Natural disasters are increasingly inflicting massive negative economic and environmental impacts on Commonwealth countries," Commonwealth Secretary-General Patricia Scotland said on Monday.
The proposed Commonwealth Disaster Risk Finance Portal will serve as a 'one stop shop' for streamlined access to the numerous financing tools already available.

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