New partnership to boost Africa's disaster resilience
Source: Middle East Insurance Review | Apr 2017
The African Risk Capacity (ARC) has teamed up with the African Development Bank (AfDB) to help African nations strengthen their resilience to weather-related risks.
Under the deal, the ARC and the AfDB will collaborate to develop their member states’ understanding of the value of risk transfer tools, while enhancing risk management infrastructure and policy, according to a joint statement.
A particular focus of the partnership will be on “recurrent disasters such as drought, floods and tropical cyclones, as well as on improved resilience and speedier recovery after disasters”, the statement added.
“This partnership with AfDB will complement ARC as we will jointly train and prepare countries to better manage weather-related risk and mainstream insurance into their disaster management plans,” said Mr Mohamed Beavogui, UN Assistant Secretary General and Director General of ARC.
The partnership will help member states “lay the foundations for a robust approach to the national level to disaster risk financing”, said Ms Frannie Leautier, AfDB Senior Vice President.