The Callable Fund
The distinguishing attributes of the Callable Fund are as follows:
- Fund in readiness, for rapid response in a post-disaster scenarios;
- Prior agreements with both donor and beneficiary governments;
- Financing/co-financing of post-disaster recovery;
- Joint needs assessments and implementation of recommendations under the leadership of country government's designated authority.
For example, Denmark, Italy, Switzerland and the European Commission provided Callable Fund contributions for post-cyclone Sidr rapid recovery in Bangladesh. This enabled a post-disaster intervention of $3.4 million which was in addition to the development assistance provided from traditional donors including the World Bank.