INSURANCE SCHEME OFFERS HOPE FOR DROUGHT – STRICKEN AFRICAN FARMERS

A partnership between United nations and African Union (AU) agencies will help African economies insure themselves against droughts and other extreme weather events that plaque the continent. The AU African Risk capacity (ARC) and the U.N. Convention to combat desertification (UNCCD) struck a deal in Bonn, Germany recently to raise money for the safeguard Scheme and advance policies that help countries adapt to weather threats. Data shows that 45 million people across Africa can’t put food on their tables especially in the South and East where punishing dry spells have cut harvest yields and push up prices of staples.

According to UNCCD, the key aim of the partnership is to support the establishment ant implementation of national drought plans and mobilise Innovative financial instruments to better mitigate the risks of extreme climate situations.

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