Financial+assistance+for+Least+Developed+Countries+that+have+to+deal+with+natural+catastrophes

Committee: General Assembly 2 Delegation: Sudan Issue: Financial Assistance for Least Developed Countries that have to deal with natural catastrophes

It is known that developing countries face vulnerabilities when having to deal with natural catastrophes. Sudan believes that problems could be aided by NGOs as well as the UN, more specifically the UNCERF (United Nations Central Emergency Response Fund). Currently, such funds lack in financial support and Sudan asks all nations to direct their attention to such financial organizations as it is the key in answering the question of this topic. It is impossible for such a nation to stand back on its feet again without the donation from foreign resources in such devastating periods. Sudan believes that no other method will ensure a solution to such a financially demanding problem. Another aspect that is interrelated to this topic is eradication of poverty. Natural catastrophes accentuate poverty in developing countries, further disillusioning the universal Millennium Development Goals. Moreover, in order to best assist the developing nations in times of natural crisis, they themselves must constantly focus on their economic improvement as well as provide clear policies/procedures in cases of crisis emergencies. It is a sad reality that nearly all these nations that periodically face these natural tragedies do not have a properly running course of action or the law to protect its economy from being destroyed. For example, the insurance markets in these nations only compensate an insignificant amount to these victims who are also their customers. In response, the judicial system of the nation should promote the role that private market can play in hedging the risk of loss from disasters. Such modification would definitely help the government to efficiently and resourcefully make use of the financial assistance received.