|Approval Date||22 Jan 2020|
|Signature Date||24 Feb 2020|
|Planned Completion Date||31 Mar 2022|
|Last Disbursement Planned Date||31 Dec 2021|
|Sovereign / Non-Sovereign||Sovereign|
|Sector||Agriculture and Rural Development|
|DAC Sector Code||31110|
TheAfrica Disaster Risk Financing (ADRiFi) Capacity Building Project aims to strengthen Zimbabwe’s disaster risk management capacity. This support originates from a dialogue with the country in relation to their participation in the Bank’s flagship programme on disaster risk finance: the African Disaster Risks Financing (ADRiFi) Progamme, which aims to enhance the resilience and response to climate shocks in the regional member countries (RMCs),through the management the risks of climate-related disasters. The project will enhance Zimbabwe’s capacity to manage the risks of extreme climateevents, including droughts, floods and tropical cyclones, as well as promote the adoption of disaster risk financing toolssuch as sovereign risk insurance, as a viable solution for addressing climate risks. The total cost of the project is estimated at UA 0.73 million, net of taxes and duties. The Bank will provide UA 0.5 million from the country’s ADF 14 grant allocation.The ARC will provide in-kind contribution for trainings estimated at about UA 0.23million. The project will run for a period of twenty-four(24) months, starting March 2020 to March 2022.The Ministry of Finance and Economic Development (MoFED) will be responsible for implementation.
The specific objectives of the project are: (i) to strengthen the capacity of the country to understand climate-related risks, estimate their related costsf or the country, and elaborate subsequent adaptation measures to extreme events at both national and sub-national levels; and (ii) to promote instruments for financing climate related to disasters, including insurance. The Bank will collaborate with the African Risk Capacity (ARC)in implementing the project.
The direct beneficiaries of the project include Government Ministries involved in disaster risk management, Departments and Agencies that are involved in contingency planningand disaster risk financing in Zimbabwe. The project will cover populations at risk of exposure to extreme drought events, particularly smallholder farmers and vulnerable rural communities receiving assistance through Government with funds from insurance payouts in the event of drought.
African Development Fund
GOVERNMENT OF ZIMBABWE MINISTRY OF FINANCE & ECON DEVELOPMENT
|Last Update||07 Aug 2020|