Strengthening Financial Resilience in Georgia: A Workshop for Government Officials

On June 2, 2023, the Ministry of Finance of Georgia and the World Bank Group jointly organized a workshop focused on Disaster Risk Finance (DRF). The workshop brought together 45 participants, including representatives from local and national government, specifically from ministries of finance and other related ministries involved in advancing the financial resilience agenda in Georgia.

The workshop commenced with an engaging session called "Master the Disaster," a simulation exercise designed to provide participants with hands-on experience in the fundamentals of DRF. Within this session, a series of Case Studies were presented to enhance participants' understanding of the purpose, scope, and operational impact of DRF. Through interactive exercises, participants collaborated in envisioning and constructing a DRF strategy, exploring a range of ex-ante and ex-post financial instruments.

Furthermore, the workshop featured a presentation on DRF analytics, informing participants about data collection and how available data can be leveraged to make informed decisions regarding the selection and allocation of resources for DRF strategies. This was followed by a session on DRF in agriculture, showcasing a case study focused on Georgia. Given that over half of the country's labour force consists of agricultural workers, who are increasingly vulnerable to climate risks, this session resonated with the participants.

The event served as an invaluable platform for knowledge sharing, successfully fostering a community of DRF champions. To acknowledge their participation, all attendees received certificates at the conclusion of the workshop.

Overall, the workshop garnered exceptional feedback, with 98% of participants rating it as "excellent" or "very good." Additionally, 98% of participants found the program to be "very relevant" or "relevant" to their operational work, expressing a high likelihood of recommending the program to their colleagues.

As a next step, participants engaged in discussions to develop an operational framework for DRF aligned with their work in Georgia. They also had the opportunity to nominate colleagues whom they believed would benefit from attending a similar workshop.