Somalia signs MoU with ARC on cooperation to address impact of natural disasters, extreme weather events
Somalia signed a Memorandum of Understanding (MoU) with the African Risk Capacity (ARC) to work towards helping the East African country better respond to natural disasters and extreme weather events.
The MoU aims to create an effective framework for cooperation as well collaboration to facilitate cooperation to address the impact of extreme weather events, including training support, preparing Somalia’s potential participation in future ARC insurance risk pools.
“As the nature and intensity of natural catastrophes evolve across the region, we maintain that the continent will be better protected through a pooled-risk approach bringing together countries and leveraging smart partnerships,” said ARC Group-Director General, Ibrahima Cheikh Diong.
Notably, the country’s exposure to both drought as well as flood risks endangers the national economy; requiring pro-active disaster risk reduction strategies.