PCRIC Embarks on Inaugural Country Mission to Niue

Marking a significant step forward in the partnership between PCRIC and the Government of Niue, PCRIC embarked on its inaugural country mission to the island nation.

The mission comes following Niue’s purchase of a cyclone policy from PCRIC last year, covering the current year. As part of this historic mission, PCRIC presented its Disaster Risk Finance (DRF) services to Niue’s Finance Leadership, showcasing existing policy options and introducing two new products: drought and excess rainfall. These products will be linked to the Loss and Damage facility, enhancing Niue’s resilience against natural disasters.

Additionally, PCRIC shared insights on premium subsidy availability and other opportunities related to education and capacity building from the Global Shield Solutions Platform (GSSP). The mission included discussions with officials about the proposed reef protection policy, underlining PCRIC’s commitment to environmental sustainability.

Looking ahead, PCRIC will explore future capacity-building activities, including planned scholarships under the GSSP arrangement and participation in the upcoming Forum Economic Ministers Meeting (FEMM) scheduled for July 29th to August 2nd, 2024.

The mission team, led by the PCRIC CEO, Mr. Aholotu Palu and PCRIC Advisor and Risk Modeller, Mr. Nicolas Pondard, also met with relevant government stakeholders, including the office of the Government Secretary, the Financial Secretary, the Niue Disaster Management Office, along with other key Ministries.

PCRIC aims to strengthen its partnership with the Government of Niue and support their efforts in disaster resilience and risk management. The Company remains committed to working closely with Pacific Island countries to build resilience and safeguard communities against the impacts of natural disasters.