By Isaac Salima:
The African Development Bank (AfDB) and other partners have pledged to support countries, including Malawi, that are struggling with disasters resulting from climate change.
AfDB Country Manager for the Malawi Country Office, Macmillan Anyanwu, said under the Africa Disaster Risk Financing Programme (Adrifi), AfDB has invested over $100 million in 16 countries, providing coverage for more than five million people against the risks of severe drought.
He added that Malawi will benefit from approximately $23 million in the next phase of the Adrifi programme.
“This is the second or third financing we are providing to Malawi. This year, Malawi received about $16 million. The funds will cover floods, droughts and other climate-related disasters that impact the country,” Anyanwu said.
He added that the next phase will also benefit communities at an individual level.
“Farmers will also have insurance so that when disasters strike, we will not only provide payouts to the government but also to individuals,” the AfDB official remarked.
Anyanwu made these comments yesterday at the opening of a high-level forum on climate disaster risk financing and insurance, which AfDB, in collaboration with the Malawi Government, has organised in Blantyre.
The meeting has attracted delegates from 24 countries.
Principal Secretary for Administration in the Ministry of Finance and Economic Affairs, Hetherwick Njati, called on participants to explore the opportunities presented at the forum.
“The disasters do not only damage infrastructure and disrupt livelihoods but they also set back years of progress in development.
“It is therefore clear that traditional approaches are no longer sufficient. We need innovative, scalable and inclusive solutions that will provide a robust safety net for the most vulnerable populations,” Njati said.
He added that within this context, the need for innovative and sustainable solutions, such as Climate Disaster Risk Financing and Insurance, “becomes all the more urgent.”
The meeting is being held under the theme ‘Harnessing Opportunities of the Evolving Climate Disaster Risk Financing and Insurance in Africa’.
