{"id":24709,"date":"2022-06-21T21:59:23","date_gmt":"2022-06-21T21:59:23","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/afdb-approves-k9-5-billion-in-grants-to-malawi"},"modified":"2022-06-21T22:22:28","modified_gmt":"2022-06-21T22:22:28","slug":"afdb-approves-k9-5-billion-in-grants-to-malawi","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/afdb-approves-k9-5-billion-in-grants-to-malawi","title":{"rendered":"AfDB approves K9.5 billion in grants to Malawi"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>The Board of Directors of the African Development Bank (AfDB) has approved two grants amounting to $9.25 million (K9.5 billion) for implementation of the Africa Disaster Risk Financing Programme (ADRiFi) in Malawi which will boost the country\u2019s resilience against climate-related shocks and food insecurity.<\/p>\n

According to AfDB, the funding will support the government of Malawi to develop climate risk management solutions and pay its sovereign risk premium for the transfer of drought risks under the Africa Disaster Risk Financing Programme.<\/p>\n

The initiative, a partnership between the African Development Bank and African Risk Capacity Group (ARC), enhances preparedness and strengthens countries\u2019 financial resilience against climate hazards by supporting participation in ARC\u2019s sovereign risk pool. ADRiFi\u2019s presence in Malawi will help shield the country\u2019s smallholder farming communities \u2014 including women and children \u2014 from the worst impacts of drought.<\/p>\n

The first grant, worth $4.9 million (about K5 billion), will come from the African Development Fund. The ADRiFi Multi-Donor Trust Fund will provide financing for the second grant valued at $4.35 million (about K4.5 billion).<\/p>\n

The grants will support the first of two phases of the program, covering the 2022-2023 period. The government of Malawi and ARC will also contribute funding toward total costs of $10.13 million for Phase 1 of the programme.<\/p>\n

\u201cAfrica is the world\u2019s region most vulnerable to climate change-related weather extremes like flooding, droughts and tropical cyclones,\u201d said Dr. Beth Dunford, the Bank\u2019s Vice President for Agriculture, Human and Social Development. \u201cWe welcome Malawi into the Africa Disaster Risk Financing Programme, which boosts participating countries\u2019 ability to respond rapidly to the aftermath of climate-related disasters, arrange finance before shocks and better serve their most vulnerable populations impacted by the effects of climate shocks.\u201d<\/p>\n

Agriculture contributes about 30% of Malawi\u2019s GDP and employs about 64% of its workforce. The nation\u2019s agriculture sector is primarily dependent on rainfall. However, rainfall patterns have grown more erratic and harder to predict due to climate variability, and climate-induced shocks are predicted to become more frequent and severe, especially in southern Africa. This has increased the vulnerability of rural dwellers, including farmers, and the overall economy, to weather-related shocks.<\/p>\n

ADRiFi will safeguard investments and development gains in Malawi related to five Bank agricultural projects, including to rebuild infrastructure damaged when disaster strikes. Grant funds will also help build the capacity of national agencies that manage disaster risk.<\/p>\n

Rollout of the disaster risk advances Malawi\u2019s Vision 2063, which aims to promote a transformative agriculture sector that is smart and resilient to climate change.<\/p>\n

Malawi is the ninth country to join the ADRiFi programme. The other participants are Gambia, Mauritania, Niger, Sudan, Madagascar, Mozambique, Zambia and Zimbabwe. Under the initiative, Madagascar, Mauritania and Niger have already received insurance payouts with a combined value of $17 million. The funds have been used for recovery efforts following drought and tropical cyclones.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. The Board of Directors of the African Development Bank (AfDB) has approved two grants amounting to $9.25 million (K9.5 billion) for implementation of the Africa Disaster Risk Financing Programme (ADRiFi) in Malawi which will boost the country\u2019s resilience against climate-related shocks and food insecurity. According to AfDB, the funding will support the […]<\/p>\n","protected":false},"author":84,"featured_media":24708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,12],"tags":[233,371,3283,1504,374,234],"class_list":["post-24709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-malawi","tag-african-development-bank","tag-climate-change","tag-floods","tag-malawi"],"yoast_head":"\nAfDB approves K9.5 billion in grants to Malawi - Malawi<\/title>\n<meta name=\"description\" content=\"The Board of Directors of the African Development Bank (AfDB) has approved two grants amounting to $9.25 million (K9.5 b ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/afdb-approves-k9-5-billion-in-grants-to-malawi\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB approves K9.5 billion in grants to Malawi\" \/>\n<meta property=\"og:description\" content=\"The Board of Directors of the African Development Bank (AfDB) has approved two grants amounting to $9.25 million (K9.5 b ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/afdb-approves-k9-5-billion-in-grants-to-malawi\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-21T21:59:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-21T22:22:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/06\/postQueueImg_7-62b2448b8e0ad.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"429\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/afdb-approves-k9-5-billion-in-grants-to-malawi#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/afdb-approves-k9-5-billion-in-grants-to-malawi\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"AfDB approves K9.5 billion in grants to Malawi\",\"datePublished\":\"2022-06-21T21:59:23+00:00\",\"dateModified\":\"2022-06-21T22:22:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/afdb-approves-k9-5-billion-in-grants-to-malawi\"},\"wordCount\":490,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/afdb-approves-k9-5-billion-in-grants-to-malawi#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/06\/postQueueImg_7-62b2448b8e0ad.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"African Development Bank\",\"climate change\",\"Floods\",\"Malawi\"],\"articleSection\":[\"all news\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/afdb-approves-k9-5-billion-in-grants-to-malawi#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/afdb-approves-k9-5-billion-in-grants-to-malawi\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/afdb-approves-k9-5-billion-in-grants-to-malawi\",\"name\":\"AfDB approves K9.5 billion in grants to Malawi - 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