🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

UN draws deep from emergency funds amid record humanitarian aid gap

Published 09/16/2022, 07:27 AM
Updated 09/16/2022, 07:34 AM
© Reuters. FILE PHOTO: The United Nations headquarters building is pictured with a UN logo in the Manhattan borough of New York City, New York, U.S., March 1, 2022.  REUTERS/Carlo Allegri/File Photo

By Emma Farge

GENEVA (Reuters) - Faced with a record $32 billion shortfall in humanitarian aid funding, the United Nations is dipping deep into its emergency fund to support critical programmes in 11 countries including Myanmar and Mali.

Donors have given more than ever in 2022 for crises across the world but the needs have also soared amid unprecedented floods in Pakistan and famine warnings in Somalia, the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) says.

"We know these are difficult times, not least after COVID where budgets have shrunk and we've seen global recessionary trends," Jens Laerke, spokesperson for OCHA, said at a Geneva press briefing.

"However the needs are sky-rocketing. It's out of control."

The latest drawdown of $100 million means that OCHA has spent a record quarter of a billion dollars from the Central Emergency Response Fund so far this year. Laerke did not say how much remained. The fund enables the world body to respond quickly to new humanitarian crises or underfunded emergencies without having to wait for earmarked donations.

The money will go to life-saving programmes including in Myanmar and Mali which are only 18%- and 28%-funded. In contrast, Ukraine is one of just a handful of dozens of countries where programmes are more than half funded, at 66%, according to OCHA.

© Reuters. FILE PHOTO: The United Nations headquarters building is pictured with a UN logo in the Manhattan borough of New York City, New York, U.S., March 1, 2022.  REUTERS/Carlo Allegri/File Photo

Noting the late arrival of funds for crises in the Horn of Africa and Pakistan, Laerke said some of the newly-released funding will also be used for "anticipatory action" in Niger to address the impact of drought.

"A common concern is that resources often get mobilised only when the disasters reach peak point, the suffering is at its worst, and the response becomes more expensive," he added.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.