The Pacific Catastrophe Risk Insurance Company (PCRIC) is pleased to announce the engagement of Mr Shadrach Fanega as a consultant for the Solomon Islands. This key appointment is part of PCRIC’s ongoing commitment to supporting the Pacific region in strengthening its disaster risk financing frameworks.
Mr Fanega brings over 30 years of experience in development planning and financial management. He has held several senior positions, including Under-Secretary for the Ministry of Development Planning and Aid Coordination, Permanent Secretary for the Ministry of Finance and Treasury, and Pro-Vice-Chancellor Corporate at the Solomon Islands National University.
With the financial backing of the Global Shield Solutions Platform (GSSP), managed by the Frankfurt School of Finance & Management, this initiative continues to advance PCRIC’s mission of delivering effective disaster risk financing solutions. The focus remains on ensuring that insurance payouts are timely and reach the most vulnerable communities in the aftermath of disasters.
Commenting on this appointment, PCRIC CEO Mr. Aholotu Palu said:
“The engagement of these consultants marks a significant step in our ongoing efforts to empower Pacific nations to proactively manage disaster risk financing. This is especially important following the recent launch of the Solomon Islands Government’s National Disaster Risk Financing Strategy. The development of national contingency plans is crucial as we work to address the increasing impacts of climate change.”
Dr. Annette Detken, Head of GSSP, commented:
“GSSP is committed to supporting the development of innovative financial preparedness across the Pacific. Mr Fanega’s appointment reflects a vital step towards embedding contingency planning as part of national disaster risk strategies. By investing in these frameworks, we help to ensure that countries like the Solomon Islands can act quickly, effectively, and independently when climate disasters strike.”
The contingency planning process will take a collaborative approach, engaging key stakeholders to validate funding assumptions, adjust response timelines, and define operational triggers for the swift release of disaster-related funds.
