• Contact
Wednesday, February 1, 2023
  • Login
The African Business - News About African business
  • Home
  • EconomyNew
    Nigeria extends deadline to swap old currency notes by 10 days

    Nigeria extends deadline to swap old currency notes by 10 days

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Trending Tags

  • Business
    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

    Ethiopian Airlines set to fly to Atlanta

    Ethiopian Airlines set to fly to Atlanta

    Angola: Poor Management of the Petroleum Sector with Effects on Declining Production

    Angola Sonangol plans to list on Angolan stock exchange by 2027

    Nigeria artists conquer the NFT marketplace in Africa

    Nigeria artists conquer the NFT marketplace in Africa

  • Finance
    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    Angola banks entry into local Bourse gives credibility to economy

    Angola banks entry into local Bourse gives credibility to economy

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
  • Home
  • EconomyNew
    Nigeria extends deadline to swap old currency notes by 10 days

    Nigeria extends deadline to swap old currency notes by 10 days

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Trending Tags

  • Business
    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

    Ethiopian Airlines set to fly to Atlanta

    Ethiopian Airlines set to fly to Atlanta

    Angola: Poor Management of the Petroleum Sector with Effects on Declining Production

    Angola Sonangol plans to list on Angolan stock exchange by 2027

    Nigeria artists conquer the NFT marketplace in Africa

    Nigeria artists conquer the NFT marketplace in Africa

  • Finance
    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    Angola banks entry into local Bourse gives credibility to economy

    Angola banks entry into local Bourse gives credibility to economy

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
The African Business - News About African business
No Result
View All Result
Home Economy

German government announces €18 million support to subsidize climate insurance for African Risk Capacity member states

TAB by TAB
08/11/2021
in Economy
0
German government announces €18 million support to subsidize climate insurance for African Risk Capacity member states

German government announces €18 million support to subsidize climate insurance for African Risk Capacity member states

0
SHARES
13
VIEWS
Share on FacebookShare on Twitter

German government announces €18 million support to subsidize climate insurance for African Risk Capacity member states

The Government of the Federal Republic of Germany has announced, on the margins of the ongoing United Nations 2021 United Nations Climate Change Conference (COP26), the sum of €18million to subsidize the cost of disaster risk insurance for qualifying African Risk Capacity (ARC) Group Member States.

Related posts

Nigeria extends deadline to swap old currency notes by 10 days

Nigeria extends deadline to swap old currency notes by 10 days

30/01/2023
1
Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

28/01/2023
1

German government announces €18 million support to subsidize climate insurance for African Risk Capacity member states

In her statement, the Parliamentary State Secretary to the Federal Ministry for Economic Cooperation and Development (BMZ), Dr. Maria Flachsbarth, stated that the commitment will help establish a Premium Support Facility for African governments and humanitarian agencies wishing to purchase climate related insurance.

ARC, an African Union initiative that is led by 35 AU Member States, provides insurance for droughts and tropical cyclones. The standard approach to pay for climate disasters is slow and unpredictable, using humanitarian appeals or loans arranged after a disaster strikes.

ARC replaces these outdated approaches by offering governments and humanitarian actors the opportunity to plan and purchase insurance that can provide fast payouts, quickly reaching people who need support. This prevents humanitarian needs from escalating, ultimately saving lives, protecting livelihoods and assets, and safeguarding development gains.

Since 2014, 62 policies have been signed by Member States for cumulative insurance coverage of $720 million for the protection of 72 million vulnerable populations in participating countries.

Christian Krämer, Member of the Management Committee at KfW Development Bank: “Germany has been a long-standing supporter of the African Risk Capacity. Earlier this year, in Germany we were affected by devastating floods – we have experienced ourselves the importance of preparedness and the vital role that insurance can play in recovery. We are therefore delighted to be able to extend support to African nations who have been so badly affected by the covid-19 pandemic, so that they can take steps to prepare well to face the rising challenges of climate change.”

Given that climate change is threatening to bring more frequent and severe extreme weather events, the Premium Support Facility will be crucial for the most vulnerable African countries. Following the Covid-19 pandemic, many African governments have severely constrained budgets and humanitarian agencies are struggling to meet unprecedented levels of need.

This new funding will subsidize insurance premiums, decreasing in future years as countries and organisations are able to take over the costs using their national budgets and long-term sustainable financing. Germany’s support will catalyze effective risk management and help protect the poorest and most vulnerable people across the continent.

Ibrahima Cheikh Diong, United Nations Assistant Secretary-General / Director-General of the African Risk Capacity Group: “We are extremely delighted about the consistent support of the German Government to disaster risk reduction and mitigation in our Member States. The grant is a clear testimony of the value of smart partnerships for smart disaster risk management and financing for early action. Through this assistance, we are optimistic that other partners will embrace our pitch for a Continental Premium Support Facility to help institutionalize sovereign parametric insurance culture in the region.”

Christina Bennett, CEO, Start Network: “We are delighted to hear of Germany’s increase in support to ARC. By funding premiums for drought and tropical cyclone insurance in African countries, Germany is helping to ensure that vulnerable communities are better protected from the escalating risks that they face as a result of the climate crisis.”

German government announces €18 million support to subsidize climate insurance for African Risk Capacity member states

Source: Africa Business Communities
Previous Post

FTC solar announces its first solar project in Africa

Next Post

SA’s top performing equity fund scores big on energy stocks bet

Next Post
SA’s top performing equity fund scores big on energy stocks bet

SA's top performing equity fund scores big on energy stocks bet

RECOMMENDED NEWS

ISUZU Motors South Africa eyes African expansion with new center

ISUZU Motors South Africa eyes African expansion with new center

5 months ago
1
The Central Bank of Kenya has revised upwards its economic growth projection

The Central Bank of Kenya has revised upwards its economic growth projection

1 year ago
4
Angola calls for investment in agri-business

Angola calls for investment in agri-business

3 months ago
2
Rwanda aims to attract investors at WEF 2023 with a focus on sustainable tourism

Rwanda aims to attract investors at WEF 2023 with a focus on sustainable tourism

2 weeks ago
1

BROWSE BY CATEGORIES

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Ads

Categories

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized
The African Business – News About African business

We bring you the best Premium news about African Business.

Follow us on social media:

Recent News

  • World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man
  • Nigeria launches payments card program to rival Visa and Mastercard
  • Develop enabling legislation to fuel the cannabis sector to new highs and boost the economy

Category

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Legal Information

Terms and Conditions
Privacy Policy
Complaints Book

  • Contact

© 2021 The African Business

No Result
View All Result
  • Home
  • Economy
  • Business
  • Finance
  • Opinion
  • Lifestyle
  • Sports
  • Green Economy

© 2021 The African Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In