Browsing: Africa Climate Risk Insurance Facility for Adaptation

• AfDB’s Africa Climate Risk Insurance Facility for Adaptation will insulate the agricultural sector against losses. 
• The product will boost countries’ preparedness, adaptation, and resilience against flooding, drought, and famine.
• The facility will contribute to building the data needed for robust early warning systems across Africa.

In a world gripped by the urgent need to address climate change, Africa stands out as a continent that emits the least carbon yet bears the brunt of its consequences. The recently concluded Africa Climate Summit shed light on this paradox and ignited a crucial initiative by the African Development Bank: the ‘Africa Climate Risk Insurance Facility for Adaptation (ACRIFA).’

This insurance programme aims to introduce a disaster relief insurance system to shield African nations from the ravages of catastrophic weather-related events.

Insurance armor against climate crisis

Agriculture, the lifeblood of many African economies, finds itself in the crosshairs of climate change. ACRIFA’s mission …