Cgtn news un humanitatian funds privatebsector initiative

Here is the text of the CGTN News article on UN humanitarian funds and private sector initiative:

UN humanitarian funds get boost from private sector initiative

The United Nations has launched a new initiative to mobilize private sector funding for humanitarian crises, aiming to bridge the gap between the growing needs of affected populations and the limited resources available.

The UN's Central Emergency Response Fund (CERF) has partnered with the private sector to launch the "Humanitarian Fund for the Private Sector" (HFPS), which aims to raise $100 million in the next three years to support humanitarian responses around the world.

The HFPS will focus on supporting the most vulnerable populations, including refugees, internally displaced persons, and those affected by natural disasters and conflicts.

The initiative is being launched in response to the growing needs of humanitarian crises, which have increased by 20% over the past five years. The UN estimates that it will require $25 billion in 2023 to respond to humanitarian crises worldwide.

The private sector has been increasingly recognized as a key partner in humanitarian efforts, with many companies already contributing to humanitarian responses through cash donations, in-kind donations, and volunteer efforts.

The HFPS will work with private sector companies to identify areas where their expertise and resources can be leveraged to support humanitarian responses. This may include providing funding, goods, and services, as well as expertise and volunteer efforts.

The initiative is being launched with the support of several private sector companies, including the Bill and Melinda Gates Foundation, the Mastercard Foundation, and the IKEA Foundation.

"We are thrilled to launch this new initiative, which will help us to better respond to the growing needs of affected populations," said UN Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, Mark Lowcock. "The private sector has a critical role to play in supporting humanitarian efforts, and we look forward to working with them to make a meaningful difference in the lives of those affected by crisis."

The HFPS is expected to be a key component of the UN's efforts to mobilize additional funding for humanitarian responses, and will help to support the UN's humanitarian appeals and response efforts around the world.