Thursday, June 13, 2024
HomeEnvironmentMalawi Govt gets MK14.2bn drought insurance payout from ADB

Malawi Govt gets MK14.2bn drought insurance payout from ADB

By Chisomo Phiri

BLANTYRE-(MaraviPost)-The Malawi Government has received a drought insurance payout of US$14.2million (MK14.2 billion) from the African Development Bank through the Risk Capacity Limited to support drought affected households in the country.

Receiving the amount at a ceremony held at Kamuzu Palace in Lilongwe on Tuesday June 28, 2022, President Lazarus Chakwera assured Malawians that his government will continue to put Malawi first, and will cushion few whose crops did not do well.

Chakwera smiles on drought insurance payout

He said the payout will therefore, assist the Agricultural Development Divisions (ADDs) of Karonga, Salima, Mzuzu, Salima, Lilongwe, Blantyre, Machinga and Shire Valley which were heavily affected by drought this year.

” I would like to thank the ARC group for honouring the payout of MK14.2 billion towards providing resilience to disaster affected victims and those whose crops did not do well.

” I would like to further assure that the country has enough food and even those whose crops did not do well, will be provided for, said Chakwera.

He added ” we intend to scale up an already existing social cash transfer to programme to improve the level of disposable income in affected homes and boost their spending power.”

Chakwera pledged that his government will continue collaborating with international stakeholders to achieve resilience against climate change effects on farmers and help them adapt to weather-related shocks.

ARC Group Board Chairperson Mothae Anthony Maruping, asked the government to consolidate its membership with ARC so as they become full members and benefit more.

Deputy Minister of Agriculture Madalitso Kambauwa said the payout has come at the right time and will address the climate shocks experienced this year.

Malawi signed a drought insurance policy with ARC Group through African Development Bank to provide a resilience to various climatic risks.

Chisomo Phiri
Chisomo Phirihttp://www.maravipost.com
I am an experienced young journalist who writes for Malawi's major print and online publications. I currently work for The Maravi Post (www.maravipost.com), one of the Malawi's fastest growing Online Newspapers as a National Reporter. I am interested in environmental, science and innovation, Education and human rights reporting
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