ARC Ltd funds Madagascar with US$2.13m to cover anticipated losses in case of crop failure

MADAGASCAR – The Government of Madagascar has received US$2.13 million from the African Risk Capacity Insurance Company Limited (ARC Ltd) to cover anticipated losses to livelihoods of its vulnerable population from the crop failure in the just concluded farming season. The ARC payout is the result of drought insurance taken by the country with the support of the African Development Bank (the Bank) through its flagship programme, Africa Disaster Risk Financing (ADRiFi) Programme, which financed 100% of the 2019/2020 insurance premium for sovereign drought risk transfer for the Republic of…

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