Staff reporter – The Zimbabwe Daily
Antananarivo, Madagascar – The African Risk Capacity (ARC) insurance company has issued Madagascar US$2.13 million to cover anticipated losses to livelihoods of its vulnerable population from the crop failure in the just concluded farming season.
Morrso, the payout will be implemented to assist the lives and livelihoods of 600 000 vulnerable population affected by the drought.
“The drought insurance of African Risk Capacity is one of the sustainable solutions to strengthen the efforts of the government and partners in the southern region of Madagascar.
It demonstrates the mutual assistance between friendly African countries to respond efficiently to natural disasters, particularly drought,” said the Minister of Economy and Finance, Richard Randriamandrato.
Though Madagascar has an official COVID-19 tally of just under 1 800 infections and 16 deaths, the pandemic’s socioeconomic effects will be catastrophic for the country, the United Nations has warned.