Small businesses are the backbone of employment, growth and stability, and they are especially vulnerable to climate risks, and the lack of insurance and social protection in many developing countries means the financial consequences of these shocks are felt by every business, and every person on which they depend. In 2022, the global protection gap, which is the difference between financial losses incurred due to various risks and the amount of insurance coverage available, reached $1.8 trillion in premium equivalent terms, 20 percent more of what was recorded in 2018. In the face of rising risks, we believe that more public private partnerships are critical to achieving the SDGs, which is why UNDP has partnered with Generali to enhance SME resilience in developing countries. Our partnership will give life to new ideas, processes and tools to build the financial resilience of small business in developing countries.