PCRIC Meets with Japan’s Ministry of Finance’s Management
Ahead of the Understanding Risk Forum 2024 (UR24) meetings in Himeji, Japan, the PCRIC team led by Mr. Aholotu Palu, CEO and comprised of Mrs. Daphney Stone (Risk Manager), Dr. Nicolas Pondard (Strategic Advisor Risk Modelling) and Ms. Shoko Takemoto (Donor Coordination Consultant) met with officials from the Japan Ministry of Finance (JMOF) in Tokyo, led by Mr. Tomoyoshi Yahagi, Deputy Director General of the International Bureau.
The PCRIC CEO took the opportunity to express gratitude on behalf of PCRIC and the Pacific Islands it serves for Japan’s steadfast, ongoing support of the Company over many years. He went on to detail PCRIC’s recent progress and accomplishments, acknowledging the significance of support from both Japan and other generous donors.
Mr. Tomoyoshi Yahagi reiterated the unique role they saw PCRIC play in the DRF space through offering market-based tools to address disaster and climate challenges not only relying on donors, but by also leveraging specific private sector engagement. He commended PCRIC for its significant progress in recent years, including the expansion of its membership to include Fiji, Niue and Papua New Guinea, and the introduction of drought and excess rainfall parametric insurance products.
The officials reaffirmed Japan’s strong commitment and continued support for PCRIC, discussing priority areas necessary for the continuity and expansion of the Company. The possibility of potential support was also explored, and further dialogue on the matter will occur in coming months.
