IFRC Emergency Fund: Doubling Goal by 2030
IFRC Aims to Double Disaster Relief Fund by 2030 to Meet Rising Global Needs
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Rapid Response Capacity Expansion
The International Federation of Red Cross and Red Crescent Societies (IFRC) announced on November 3, 2024, its intention to double the size of its Disaster Relief Emergency Fund (DREF) to 200 million Swiss francs by 2030. This expansion is designed to address what the institution describes as “unprecedented” humanitarian challenges globally.
The DREF, established in 1979, provides National Red Cross and Red Crescent Societies with immediate funding following disasters or in anticipation of foreseeable crises. The system is designed for speed, with approvals typically granted within 24 hours and funds disbursed within 72 hours.
Record Contributions and Impact
At its annual pledging conference in Geneva, the IFRC secured nearly 110 million Swiss francs in contributions - a record amount for the DREF. This influx of funding demonstrates increased confidence in the fund’s effectiveness as a rapid, locally-led financing mechanism.
Since 2020, the DREF has experienced substantial growth, increasing from 23.5 million Swiss francs to 91.5 million Swiss francs in 2024.This growth has enabled the allocation of 295 million Swiss francs to emergency operations in over 100 countries, directly benefiting approximately 80 million people.
With the planned expansion to 200 million Swiss francs by 2030,the IFRC projects it will be able to assist 50 million people annually.
Innovative Funding Models
A key driver of the DREF’s recent success is the growth of partnerships with the private sector. Contributions from these partnerships have increased tenfold since 2019. This surge is largely attributed to the implementation of an innovative insurance mechanism that effectively supplements funding from traditional public donors, diversifying the fund’s revenue streams and enhancing its resilience.