Home » £7.1 million to protect high-risk countries from the impacts of climate change, including Senegal, Somalia, Madagascar and Zimbabwe, through innovative crisis financing

£7.1 million to protect high-risk countries from the impacts of climate change, including Senegal, Somalia, Madagascar and Zimbabwe, through innovative crisis financing

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£7.1 million to protect high-risk countries from the impacts of climate change, including Senegal, Somalia, Madagascar and Zimbabwe, through innovative crisis financing

Aftermath of Cyclone in Madagascar

HARARE Zimbabwe, January 22, 2024-/African Media Agency (AMA)/-At the recent COP28 summit, the UK Government allocated a substantial sum of £100 million to tackle climate change, putting the focus on supporting communities at risk – of which £6 million will be dedicated to protecting Senegal, Somalia, Madagascar and Zimbabwe from extreme drought and/or cyclone events through the ARC Replica mechanism. This funding will be used to implement innovative disaster risk financing and insurance programs led by Start Network, a global network of humanitarian organizations committed to preparedness and rapid response and readiness. locally managed.

Start Network recently announced the purchase of a cyclone insurance policy for Madagascar, in partnership with the Government of Madagascar and the UN World Food Program through the African Risk Capacity (ARC), covering the period from November 2023 to May 2024. The police support communities exposed to risks in the event of tropical cyclones, which impact African countries bordering the Indian Ocean more frequently, and more severely, compared to previous decades. If activated, Start Network’s ARC Replica program can provide between $1 million and $4 million* to support up to 400,000 affected people.

Madagascar is a country particularly vulnerable to climatic hazards. Each time they occur, cyclones, floods and droughts have devastating effects on populations, causing destruction of property and infrastructure, displacement and loss of lives and livelihoods. In particular, in 2022 and 2023, Madagascar was hit hard by intense tropical cyclones, including Help me et Freddy.

ARC Replica provides disaster response support after the anticipatory and early action triggered by Start Ready. The added value of ARC Replica lies in strengthening the resilience of communities to major risks through the continuity of community support. Start Ready is another Start Network mechanism that uses predictive modeling to anticipate climate-related events, and aims to activate three days before cyclones make landfall in the country**.

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General Mamy Razakanaivo, executive secretary of the Emergency Prevention and Management Unit (CPGU) of Madagascar, declares:

“ARC Replica is one of the ARC programs that at least doubles the capacity to respond to climate risks. It thus makes it possible to provide vital support before the effects of a crisis are felt. »

Similar parametric insurance policies have been taken out in the past in Somalia, Senegal and Zimbabwe. The additional funding provided by the UK Government will be used to fund local humanitarian responses to El Niño-induced risks.

Christina Bennett, President and CEO of Start Network, explains:

“We are delighted with the increase in funding provided by the UK Government to Start Network for disaster risk financing. Continued support from the Foreign, Commonwealth and Development Office will help us protect more lives and livelihoods ahead of climate-related emergencies. By pooling risks and resources, we are able to make our funds work more efficiently and grow more. We look forward to our continued partnership with the FCDO and support the UK’s call for bolder action to prevent the impacts of climate change on the most vulnerable communities. »

*Payments depend on the severity of each event.

**Start Ready activates when specific conditions are met.

Distributed by African Media Agency pour Start Network

Notes to editors

For more information, please contact

Matthew Stickland, responsable de la communication, Start Network

[email protected]

Available for an interview:

· Amadou Diallo, Regional Coordinator

·       Christina Bennett – PDG, Start Network

Start Network : www.startnetwork.org | @StartNetwork

Start Network is made up of more than 100 humanitarian agencies present In more than 150 countries. Our vision is that of a new era of humanitarian action locally led and accountable to people threatened or affected by crises.

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By tackling what we see as the biggest problems in traditional aid and philanthropy (centralized power, slow and reactive funding, and an aversion to change), we provide rapid, proactive support to communities that are on the front lines of crises. To do this, we use innovative approaches and financing models that empower communities so they can provide effective, locally-led responses before and during disasters.

Visit our website to see the full list of members.

The post £7.1 million to protect high-risk countries from the impacts of climate change, including Senegal, Somalia, Madagascar and Zimbabwe, with innovative crisis financing appeared first on African Media Agency.

Source : African Media Agency (AMA)

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