Climate Disaster Risk Finance Initiative project
OBJECTIVES:
- Build the capacity of African insurance institutions through the development of necessary skills to understand climate and disaster risk insurance.
- Strengthen contingency planning and policy making through improved access to reliable data sources.
- Provide access to finance and insurance products that respond to the climate and disaster risk needs of AU member states.
Duration:
2024-2027
Budget:
Euros 2,5 million
Target countries:
Bénin,Sénégal & Uganda and Continent wide
OVERVIEW:
ARC Ltd, as part of its broader mission to strengthen climate resilience across Africa, is implementing a three-year initiative under the Global Shield Solutions Platform (GSSP) under the Global Shield Programme for Resilient Risk Pools (GSRRP). The programme is designed to equip African insurance markets and institutions with the technical capacity, data access, and innovative products necessary to scale climate and disaster risk financing (CDRFI) solutions.
This initiative focuses on building capacity at the sovereign, meso-, and micro-levels across selected countries while supporting systemic change in how African nations prepare for, plan, and respond to climate shocks.
KEY OUTCOMES:
- Increased number of qualified African climate risk professionals
- Stronger local capacity in selected countries to design and deliver climate risk insurance
- Diversified ARC product portfolio, enabling more countries to access appropriate coverage
- Improved disaster preparedness through data-driven planning and early warning systems
- Strengthened CDRFI architecture across the African continent
REPORTS AND MEDIA: