By James Kariuki
Kenya plans to tap into a continental insurance facility to cushion arid and semi-arid areas (Asals) residents against the effects of drought and floods.
Speaking during the Africa Risk Capacity (ARC) board meeting in Nairobi, National Disaster Management Authority chief executive James Oduor said the National Treasury, working jointly with the World Bank, had formulated a disaster risk financing (DRF) strategy.
ARC is an African Union specialised agency that handles climate-related food security emergencies. The blueprint sets out the criteria for quantifying cost of disasters, co-ordinating response and mobilising funds to mitigate the long-term effects on Kenya’s economy, he said. Read more…
