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Zambia’s ARC parametric drought insurance to payout US $5.3m

The African Risk Capacity (ARC) has paid out and already disbursed US $5.3 million to the Government of Zambia after the African nations parametric drought insurance coverage was triggered.

A symbolic US $5.3 million cheque was presented to the Zambian Government by representatives of the African Risk Capacity Group and the African Development Bank, with the payout set to help the country’s recovery from the extreme drought experienced during the 2021/2022 agriculture season.

The parametric insurance payout is expected to help Zambia carry out respond better and faster to communities affected by drought, through the provision of cash transfers and food assistance, helping to make sure food is available for the targeted households during the lean season period.


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