The New Delhi-based Coalition for Disaster Resilient
Infrastructure (CDRI) has assumed significance in the Quad
architecture with a White House statement asserting that the
four-nation grouping will work with CDRI on disaster risk reduction
(DRR) for extreme weather events, building on the Indo-Pacific
infrastructure initiative, Trend reports citing Times of India.
At the recent Tokyo summit, the Quad nations - the US, India,
Australia and Japan - laid emphasis on building need-based
sustainable infrastructure in the region, announcing a corpus of
$50 billion to be spent over the next five years.
The DRR is gaining priority with India, ahead of the Quad
announcement, creating a financing architecture of $7.5 billion
dedicated to reconstruct disaster-hit infrastructure. The principal
secretary to the PM, PK Mishra, on Monday had announced the
creation of the financing architecture. While the Quad fund will be
spent on creation of 'demand-driven infrastructure' in the region,
India's initiative would promote its own version of the
'The Quad will cooperate on DRR for extreme weather events,
including through the CDRI, building on the Quad's joint session on
strengthening Indo-Pacific infrastructure and communities at the
international CDRI conference,' the White House statement had
Follow us on Twitter
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.