· Akinwumi Adesina Wiki · African Development Bank Group WikiRemarks by Dr. Akinwumi A. Adesina President, African Development Bank Group at the launch of the African Climate Risk Insurance Facility for Adaptation COP 28, UAE 2 December 2023
Read full speech on afdb.org ↗ContextRemarks at COP28 in Dubai launching the African Climate Risk Insurance Facility for Adaptation; the African Development Bank finances Africa's development and helps countries insure against climate shocks.
Why it mattersCoverage against droughts, floods and pests remains rare for African growers; this facility targets that gap.
Problems raised
- African farmers face droughts, floods and pests.
- Climate insurance coverage is very low.
- Credit and price risks go uncovered.
Solutions proposed
- Launch a climate risk insurance facility.
- Design and scale climate insurance solutions.
- Cover production, credit and price risks.