Addressing climate change

new regional program has been approved by the World Bank, aimed at strengthening the financial systems of East and Southern African countries to address climate change.

The African Union’s specialized agency, the African Risk Capacity (ARC) Limited, is responsible for implementing this measure, thereby enhancing regional integration. As the « Regional Program for Emergency Preparedness and Inclusive Recovery (Repair) », it will benefit more than six million people in Comoros, Madagascar, and Mozambique by mobilizing 205 USD million in private funds for the first phase.

According to the Director of Regional Integration at the World Bank for Africa and the Middle East, each country must have pre-arranged funding to respond quickly to disasters. « It is essential to respond swiftly to save lives, preserve livelihoods, and foster inclusive recovery », she stated.

The goal of the Repair program is to improve adaptation to the effects of climate change by focusing on speed, flexibility, and sustainability. The participating countries will benefit from tailored financial instruments, allowing for access to funding within seven days following a flood. A regional climate risk management fund will be established, with pre-arranged financial instruments to address various forms of frequent and severe shocks.