Participants – Multilateral Organizations and International Financial Institutions

Multilateral organizations are composed of sovereign governments. They may be regional, organized around a common issue or function, or global. International financial institutions (IFIs) are international banks composed of sovereign member states that use public money from the Member States to provide technical and financial support for developing countries. The United Nations is the organization most involved in the mitigation of, preparedness for, response to, and recovery from disasters around the world. It is considered the best equipped to do so because of its strong relationships with most countries, especially the developing countries where assistance is most needed. When disasters strike, the UN is one of the first organizations to mobilize, and it remains in the affected countries during the recovery period for many years after. The Consolidated Appeal Process is one way the UN garners international support for relief and reconstruction. In many regions, governments have formed smaller international organizations, many of which address risk, as well. The IFIs provide nations with low capital reserves funding in the aftermath of disasters recovery reconstruction. The World Bank is regarded as one of the largest sources of development assistance.