APA- Addis Ababa (Ethiopia) The Africa Risk Capacity (ARC) of the African Union during its 13th Conference of Parties (COP) on Monday urged AU member states to ratify its treaty in a bid to strengthen disaster risk management financing across the continent.
The ARC of the African Union Commission (AUC) has warned of the rising ‘disaster risk’ on the continent and called on member states to address it accordingly.
“I encourage non-signatory Member States to sign and ratify the ARC Treaty as soon as possible and become members of this innovative pan-African disaster risk financing mechanism and solution, that helps address natural hazards and protecting the livelihoods of our most vulnerable populations“ Dr. Ibrahima Cheikh Diong, United Nations Assistant Secretary General and the Director General of the ARC Group has said.
He said that by April 2023, only 11 countries had ratified the instrument, and 35 had signed it.
“It’s time for AU Member states to take ownership of disaster risk management financing and also reduce extreme reliance on donor funding”, he stated.
The ARC Group has worked in disaster risk management financing for ten years.
The institution has recently developed flood products and rolled out tropical cyclone and drought financing instruments.
The Republics of Malawi, Madagascar and Mauritania shared their best practices in utilizing ARC’s products.
Malawi has developed a Disaster Risk Management Financing strategy, establishing itself as one of the first African countries to do so.
As an ARC signatory, it has benefited from ARC software in enhancing preparedness and effectively reaching vulnerable populations.
National arrangements have been established to deal with the food crisis, and the 2023 disbursement was sent directly to one of the established mechanisms.
In an encouraging action, the national budget supports 50% of the premium.
Additionally, country-to-country learning exchanges have also taken place, with the Republic having these peer learning exercises with the Republic of Senegal and the Republic of Niger.
MG/as/APA