3 days Ago By News Ghana
News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/swift-climate-funding-aids-mozambiques-cyclone-recovery-efforts/A rapid-response financial mechanism has delivered $16.
8 million to Mozambique within two business days of the government’s request, showcasing a critical shift in how climate disasters are managed.The payout, facilitated by the Regional Emergency Preparedness and Inclusive Access to Recovery (REPAIR) program, follows Tropical Cyclone Jude’s devastation in March, which displaced thousands and crippled infrastructure in Nampula and Zambezia provinces.Led by the World Bank and funded through the Global Shield Financing Facility (GSFF), REPAIR leverages prearranged financing to accelerate disaster relief.
Implemented by African Risk Capacity (ARC) Ltd., the initiative enabled Mozambique to swiftly allocate funds for food aid, medical supplies, and temporary shelters, targeting nearly 150,000 affected individuals.“Speed isn’t just a metric it’s a lifeline,” said ARC Ltd.
CEO Lesley Ndlovu, emphasizing the program’s focus on minimizing human suffering. The cyclone, which intensified rapidly before making landfall, underscored the growing urgency for adaptive climate financing as extreme weather events increase in frequency.REPAIR’s design prioritizes three pillars: rapid disbursement, flexible resource allocation, and sustainable funding streams.
Caroline Cerrutti, the World Bank’s lead financial specialist for Southern Africa, noted the program’s use of prenegotiated instruments to bypass bureaucratic delays. “This model bridges the gap between crisis and action,” she said, referencing the two-day turnaround as a benchmark for future responses.Mozambique, among the world’s most climate-vulnerable nations, faces recurring cyclones and flooding, with Jude marking its third major storm in five years.
The REPAIR funds aim not only to address immediate needs but also to bolster longer-term resilience in agriculture and infrastructure, sectors vital to the country’s economic stability.The program forms part of a broader $926 million World Bank commitment, with plans to expand to 12 Eastern and Southern African countries by 2031. Partner nations Comoros and Madagascar are also enrolled in its initial phase, which seeks to blend public funding with $795 million in private capital to scale climate adaptation efforts.
Mozambique’s experience highlights a stark reality: climate-vulnerable states often wait months for international aid, exacerbating recovery costs. The UN estimates that delayed responses can triple economic losses post-disaster. REPAIR’s success mirrors innovations like the Caribbean Catastrophe Risk Insurance Facility, which pools risk to expedite payouts.
However, scalability remains a challenge.While prearranged financing mechanisms show promise, their effectiveness hinges on widespread adoption and sustained investment a test as global climate finance gaps exceed $200 billion annually. For Mozambique, where 60% of the population relies on climate-sensitive livelihoods, such models aren’t just innovative they’re existential.
News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/swift-climate-funding-aids-mozambiques-cyclone-recovery-efforts/.
