The year 2009 marks the end of the first programming cycle in the life of GFDRR. As pointed out by Per Byman, Co-Chair of the Consultative Group, in his Foreword to this Report, GFDRR has come of age. During this period, the Facility has matured into a leading global player in disaster risk reduction and sustainable recovery, a reference for knowledge sharing and capacity building in vulnerable countries, a champion for South-South cooperation and an advocate of the importance of disaster risk reduction as an essential tool for climate change adaptation in developing countries.