ARC disburses N11bn to tackle drought in member countries

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The African risk potential, ARC, created by the African Union (AU) to help member countries improve their risk capabilities, said he paid a total of $ 36 million. USA (about 11 billion USD.) Member States affected by drought.

Speaking about payment, CEO Mohamed Bivoguy explained that the concept of the ARC was based on a fundamental rationale that had previously responded to the disaster before it turned into a crisis, was financially efficient and more economical.

He stated: “So far, the ARC has paid $ 36 million. United States participating countries affected by drought, which directly helped 2.1 million people and more than 1 million cattle.

“Our early intervention helps save lives and livelihoods with every dollar invested in the ARC, saving almost four and a half dollars spent after the crisis develops.

“As an international organization that engages in public-private sector cooperation dialogues, the World Economic Forum (WEF) has unique opportunities for the ARC to join other key global stakeholders in a beneficial and mutually beneficial dialogue on climate and natural risks catastrophes.

“The ARC model works by linking early warning systems with contingency planning and supported by modern financial mechanisms (in particular, insurance). This allows governments to conduct targeted disaster response in a more timely, cost-effective, objective and transparent manner. ”

In addition, Mr. Bertrand Assamoy, head of community and business engagement manager for Africa, WEF, said: “We are pleased to welcome ARC as a new member of the World Economic Forum.

“ARC’s innovative approach to helping African countries build capacity to better understand and manage disaster risks is critical to developing the necessary tools and funding to address humanitarian needs as part of broader development and sustainability.”

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