Since 2010 UNDP Kosovo has been working towards Disaster Risk Reduction (DRR) through supporting local and central institutions in Kosovo to develop risk management capacities and responding to disasters. Today a Memorandum of Understanding (MoU) was signed by Alessandra Roccasalvo, UNDP Kosovo Resident Representative, and Sami Mazreku, Executive Director of the Insurance Association of Kosovo.

The Insurance Association of Kosovo works towards improving the insurance industry within Kosovo, assist in stabilising the insurance market, educate the staff of insurance companies on industry practices and to develop human resources. Currently 14 insurances firms comprise the Insurance Association of Kosovo.

The Memorandum of Understanding  seeks to develop cooperation between UNDP and the IAK on understanding the concepts of Risk Financing and Risk Transfer Programmes with a focus on insurance, reinsurance and transfer of financial disaster risk (Catastrophe Bonds) between governments and capital market investors.

Cooperation between the two parties will also focus on raising awareness of DRR amongst civil society, public institutions and government bodies, and organise meetings with the International Monetary Fund (IMF) to discuss matters relating to DRR and Risk Financing and Risk Transfer Programmes. Additionally, both parties will seek to organise meetings with the relevant ministries to initiative legal reforms to create more favourable infrastructure regarding the operation of DRR and Risk Transfer Programmes.

For more information, please contact:

Burbuqe Dobranja, UNDP Communications Associate

Phone: (038) 249 066 ext. 410; mobile: 049 720 800; e-mail: burbuqe.dobranja@undp.org

Danijela Mitić, UNDP Communication Analyst

Phone: (038) 249 066 ext. 412; mobile: 049 720 824; e-mail: danijela.mitic@undp.org