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The Government of Ghana has signed a program of work (Program) with African Risk Capacity (ARC) on the sidelines of the joint meeting of the African Agency's Board of Directors for Capacity and its Risks, and of its financial affiliate, African Risk Capacity Limited, which started Monday in Accra. .
The program will help the Government of Ghana to improve its response to extreme weather events and natural disasters, and to prepare the country to eventually purchase insurance from ARC Ltd.
Ms. Ngozi Okonjo-Iweala, Chair of the ARC Board of Directors, commended the Government of Ghana for its tremendous efforts in continuously strengthening its disaster risk management capacity.
"We take this opportunity to encourage the Government of the Republic of Ghana to join the CRA risk pools, which would not only allow Ghana to benefit from financial protection against drought for the season. 2019, but also to strengthen Pan-Africanism and solidarity. values that strongly define Ghana today, "she said.
Ghana joined the African Capacity Building Program on January 28, 2016 by signing the Settlement Agreement Agreement Agreement in June of the same year.
In 2017, the country signed the first work plan for the program for two years.
In signing the program on behalf of the Government of Ghana, Deputy Finance Minister and MP Kwaku Agyemang Kwarteng welcomed members of the ARC Board of Directors and pointed out that Ghana was honored with To be the first country to host the joint CRA Administration Board. Agency and ARC Limited.
Kwaku Kwarteng, stressing that climate risk challenges pose a serious threat to Ghana's sustainable development, expressed the hope that "our collaboration with the ARC (with Ghana) will help the country to respond better extreme weather events and natural disasters; achievement of some components of the Sustainable Development Goals of great concern to Her Excellency President Nana Akufo-Addo …. "
The Deputy Minister expects the work program to also help prepare the government for sovereign insurance for smallholders.
The Government of Ghana, as part of its commitment to implement the priority areas of the Sendai Framework, is strengthening disaster risk management and the country's governance system. The Parliament of Ghana pbaded Law No. 927 on the National Disaster Management Organization, which established the National Disaster Fund for the country to which the Government contributed.
Eric Nana Agyemang-Prepeh, Director General of the National Disaster Management Organization (NADMO), said that Ghana had developed a process of personalization of the country and an emergency plan as well as the determination risk transfer parameters. Therefore, "… with the signing of the work program, NADMO is optimistic that the government will soon join the ARC's insurance program to deploy the Africa RiskView (ARV) software, developed by the Agency of the ARC to monitor extreme weather events, help strengthen smallholder farmers against drought, floods and other natural disasters in order to achieve relevant sustainable development goals for Ghana . "
As in many African countries, Ghana is affected by natural disasters such as coastal erosions, droughts, bush fires and floods; but has always shown commendable leadership in seeking African solutions to African problems, hence its membership in African Risk Capacity.
ARC Agency Director General, Mohamed Beavogui, said the signing of the program testified to the huge confidence of the Government of Ghana in the ARC mechanism. and promised that both sides will now work together to successfully achieve the goal, conditions and commitments contained therein. "We look forward to working with the Government of Ghana to deepen relations not only with the Agency and our sister company ARC Ltd, but also to strengthen solidarity with its neighbors and the African continent as a whole," he said. Mr. Beavogui.
To fully benefit from membership, Ghana will need to ratify the settlement agreement and purchase ARC Limited insurance coverage. Such a measure will strengthen the commitment of the Government of Ghana, as reflected in the creation and generous contribution to the National Disaster Fund.
The African Risk Capability Model is an innovative, cost-effective model that proves that it can help Member States build their capacity to better plan, prepare for, and cope with extreme weather events and natural disasters, thus ensuring food security of their populations. .
About risk capacity in Africa (ARC)
ARC includes ARC Agency and ARC Insurance Company Limited (ARC Ltd). The agency ARC Agency was established in 2012 as the specialized agency of the African Union to help Member States build their capacities to better plan, prepare and respond to disasters related to climate.
ARC Ltd is a mutual insurance structure providing risk transfer services to Member States through risk pooling and access to reinsurance markets; it belongs to Member States with active insurance policies, as well as to the KfW Development Bank and the UK Department for International Development (DFID), which contribute to the capital.
With the support of the United Kingdom, Germany, Sweden, Switzerland, Canada, France, the Rockefeller Foundation and the United States, the ARC is helping Member States to AU to reduce the risk of loss and damage caused by extreme weather events affecting African populations through sovereign insurance against natural disasters, targeted responses to natural disasters more quickly, more profitable, more objective and more transparent.
The CRA is now using its expertise to help combat some of the biggest threats facing the continent, including epidemics and epidemics.
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