US $2.7M Africa Disaster Risks Financing project launched

Wednesday, June 26, 2019

A US $2.7 million African Development Bank funded Africa Disaster Risks Financing (ADRiFi) project to be implemented by the National Disaster Management Agency (NDMA) was last Friday launched at The Gambia Tourism and Hospitality Institute in Kanifing.

The project seeks to strengthen the resilience of rural households to climate related shocks by embracing the capacity of the government to effectively respond to drought.

Cecil Nartey, an agricultural economist at the African Development Bank Group said this is the first country programme to be launched under ADRiFi since the approval of the overall framework document by the Bank’s board of directors in 2018.

The Gambia, he said, made a request for assistance in premium payment in 2016, to address the risk of climate change, particularly drought.

“The overall programme goal of ADRiFi is to enhance resilience and response to climate shocks by improving the management of natural disaster risk and adaptation to climate change in The Gambia. We plan to achieve these by strengthening Gambia’s technical capacity to evaluate climate related risks and cost while providing financing for a rapid response to address climate disasters.”

Executive director of NDMA, Sanna Dahaba said his agency said the risk financing tool will pave the way towards the achievement of their vision for good security and economic development as contained in the National Development Plan.

He said government of The Gambia over the years paid out her premium to the Africa Risks Control ltd, using its own national budget mainly for the interest shown.

“This time around, the government through this project will receive indirect support of 50% for her premium cost from the African Development Bank, while the other half will be borne by the government.”

He reiterated the bank’s continues support in the coming five years and that it will also take on board additional components as data collection and capacity building.

Author: Pa Modou Cham