Browsing: Africa Disaster Risk Management Funding Programme (ADRiFi)

Africa’s annual trade and investment gap is estimated to be a shocking $200 billion due to lack of Risk mitigation services. AfDB Bank's President Akinwumi Adesina delivers keynote speech at recent event.

Risk fear affecting investment in Africa

Countries

GuarantCo is one of the six partners that make up the Africa Co-Guarantee Platform. Others are the African Development Bank, African Trade Insurance Agency (ATI), African Union Development Agency (AUDA-NEPAD), GuarantCo (part of PIDG, the Private Infrastructure Development Group), the Islamic Corporation for the Insurance of Investment and Export Credit Insurance (ICIEC), and Afreximbank.

Speaking recently at the Platform’s Steering Committee Meeting, Afreximbank’s Director of Guarantees and Specialized Finance Kofi Asumadu-Addo, said, “…this is a critical moment, and the CGP is needed more than ever.”

He went on to point out that the Covid-19 pandemic, and the Ukraine crisis have resulted in macroeconomic challenges that require urgent action and it is only by working with large organs like the AfDB that action can be taken.…

African Development Bank fund Niger’s climate change

Industry and Trade

The African Development disbursed $5.6 million to Niger to implement its Africa Disaster Risk Management Funding Programme (ADRiFi).

The funds are from the African Development Fund (ADF-15) as technical and institutional support to strengthen the country’s resilience and response to drought-related disasters.

The project will be co-financed by the Bank’s group concessional rate loan window and the Pan-African mutual managed fund, a risk contribution of $1 million and by the Nigerien government $1.4 million.

Africa Disaster Risk Management Funding Programme (ADRiFi) aims to strengthen Niger’s resilience and response to climate shocks by improving its disaster risk management and adaptation to climate change.

ADRiFi will therefore provide financial and technical support to the Niger’s government through capacity building in terms of drought risk assessment, prevention of drought-related food crises and development of contingency plans. It will also support through transfer of sovereign risk through the subscription of insurance against drought risks …