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Globally Disasters pose daunting barriers to development in poor countries. The human and material losses resulting from disasters further impoverish already poor population. Disaster risk financing is increasingly at the centre of this nexus since there exists an inseparable relationship between finance on one hand and other activities on the other hand. Mobilizing financial resources for disaster risk reduction represent value for money as the World Bank estimated that for every dollar invested in disaster risk reduction between four and seven dollars are saved in the long run. The reactive emergency aid business model is not helping much in disaster risk reduction hence the need to adopt a proactive financing model. Financially, governments in developing countries are inadequately prepared due to weakness of the economy of the third world countries, high level of indebtedness of some countries does not allow them to access post disaster credit and budget processes in many countries do not allow governments to reallocate budgets post disaster hence creating liquidity crunches in an event of a disaster. Besides, these countries do not have enough experience in coping with devastation as well as consequent economic effects of extreme events due to their lower economic productivity and growth. In view of the foregoing, there was need to investigate disaster risk financing strategies as an intervention measure for the vulnerable countries to cope with financial needs resulting from disasters. The purpose of this study was to investigate the effect of disaster risk financing on risk reduction in the Kenyan national platform. Specifically the study sought to establish the effect of pre-disaster risk financing instruments on reduction and the effect of post disaster risk financing instruments on risk reduction. Besides, the study sought to establish the moderating effect of risk element as a risk factor on the relationship between disaster risk financing and risk reduction. The moderating effect of risk assessments as another risk factor on the relationship between disaster risk financing and risk reduction was also determined. The study adopted correlation research design and causal comparative research design, target population comprised both public and private employees of organizations or agencies engaged in disaster risk reduction activities in Kenya. The sampling strategy employed was purposive sampling giving a sample size of seventy five key informants. Both primary and secondary data were used; questionnaires, interview schedule and document analysis. Data analysis was conducted according to each stated objective by use of Pearson’s product moment correlation and multiple regression analysis. While presentation of the findings was done by use of frequency distribution, graphs, pie charts and tables. The study findings may be significant to policy makers in both the private and public sectors on disaster risk reduction, it may also inform appropriate decisions on disaster risk financing as well as adding to the existing literature on disaster risk financing and risk reduction. The study found out that disaster risk financing affect risk reduction in the Kenyan national platform. However, risk factors; risk elements and assessment does not affect the relationship between disaster risk financing and risk reduction in the Kenyan national platform.