African Risk Capacity Limited (ARC Ltd.), the financial affiliate and parametric insurance underwriting entity of the African Risk Capacity (ARC) Group, has received a $27 million contribution from the Dutch government to help in boosting climate resilience in Africa.
The Netherlands has now become the sixth contributor to the African Development Bank’s Africa Disaster Risk Financing Programme (ADRiFi) Multi-Donor Trust Fund, through which the funding will be channelled to ARC.
The additional funding is expected to support the promotion of parametric insurance and other climate risk management instruments in Africa, ARC explained.
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