African Risk Capacity (ARC) Group recently announced the successful raising of $27,000,000 in funding. The ARC Group consists of ARC Agency, a Specialised Agency of the African Union, and ARC Insurance Company Limited (ARC Ltd). ARC Agency was established in 2012 to assist African governments in enhancing their abilities to plan, prepare, and respond to natural disasters caused by extreme weather events and outbreaks. On the other hand, ARC Ltd, the commercial affiliate of the Group, offers risk pooling and transfer services. The funding will aid in providing Member States with capacity building, contingency planning, early warning systems, and risk pooling facilities to bolster resilience against disasters such as droughts and tropical cyclones. Furthermore, the Group maintains a commitment to implementing gender equality principles and ensuring inclusivity in its programs to leave no one behind.
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Breaking News: African Risk Capacity (ARC) Group Secures $27 Million in Funding for Disaster Preparedness Initiatives
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