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ARC makes US$32m climate insurance payouts to assist people impacted by drought in Zimbabwe

July 5, 2024

The Government of the Republic of Zimbabwe has received an insurance payout of US$16. 8 million following its participation in the African Risk Capacity (ARC) Group disaster financing mechanism.

For those who are not aware, the mechanism is designed to help African Union (AU) Member States plan, prepare and better respond to extreme weather events.

At the same time, through the Replica programme, which is an initiative that allows humanitarian actors to purchase insurance policies on behalf of a country, Replica partners, the United Nations World Food Programme (WFP) and Start Network received payouts of US$6.1 million and USD$8.9 million, respectively.

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