By BUUMBA CHIMBULUGERMANY has announced a €18 million premium support to subsidise climate insurance for African Risk Capacity (ARC) Member States.This was announced on the margins of the ongoing United Nations 2021 United Nations Climate Change Conference (COP26) this week.The grant is a clear testimony of the value of smart partnerships for smart disaster risk management and financing for early action, according to Ibrahima Cheikh Diong, United Nations Assistant Secretary-General and Director-General of the ARC Group“We are extremely delighted about the consistent support of the German Government to disaster risk reduction and mitigation in our Member States.“Through this assistance, we are optimistic that other partners will embrace our pitch for a Continental Premium Support Facility to help institutionalise sovereign parametric insurance culture in the region,” he said.Given that climate change is threatening to bring more frequent and extreme weather events, the Premium Support Facility will be crucial for the most vulnerable African countries.Following the Covid-19 […]
€18 million climate insurance available for African countries
