By Precious Kalino
Malawi's Minister of Finance, Simplex Chithyola Banda, has called on African Risk Capacity Limited (ARC Ltd) to offer capacity-building support in addition to financial aid to help the country manage disasters more effectively.
We need capacity building too- Chithyola PIC Precious Kalino
The Minister made the appeal on Thursday in Salima District during an ARC Ltd board meeting, which brought together representatives from various African and European countries.
Chithyola Banda said Malawi lacks the necessary capacity to manage natural disasters both before and after they occur.
He highlighted that beyond financial assistance, capacity building is crucial to addressing these gaps.
“I am appealing to ARC Ltd not only to provide financial support in times of disaster but also to help build our capacity to address challenges arising from climate change,” said Chithyola Banda.
In response, Maxwell Mkwezalamba, Chairperson of ARC Ltd, reaffirmed the insurance company's commitment to closely collaborate with the Malawi government.
He mentioned that Malawi is among the countries set to benefit from the second phase of a World Bank project aimed at mitigating the impact of natural disasters.
ARC Ltd is an African insurance provider that offers parametric insurance services to address climate change and health risks for African Union member states.
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