African Risk Capacity Group (ARC) and African Development Bank provide drought insurance pay-out to Zambian Government, for the insurance plan taken under the Africa Disaster Risk Financing Programme Multi-Donor Trust Fund. Presented by representatives from the ARC, the insurance pay-out will aid in the country’s recovery from the extreme drought event during 2021/2022. Zambia’s Acting President, Her Honour W.K Mutale Nalumango, welcomed the pay-out and said “this will enable the timely emergency response activities in communities affected by drought, through the provision of cash transfers and food assistance.” She continued, “I urge other organisations such as the World Food Programme to come on board to help expand the ARC insurance coverage in Zambia by partnering with my government to take up replica and micro insurance.” 

Source: Reinsurance News

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