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CISONEC for vigorous disaster risk financing, insurance in Malawi

CISONECC’s participants on Climate and Disaster Risk Financing and Insurance (CDRFI) and Participatory Monitoring and Evaluation (PME

LILONGWE-(MaraviPost)-The country’s Civil Society Network on Climate Change (CISONECC) has emphasized the need for Malawi to have vigorous strategies on financing and insuring disasters that comes due to effects of climate mate

The grouping observes that multiple strategies need to be employed towards containing disasters that have rendered local homeless.

CISONECC National Coordinator Julius Ng’oma told The Maravi Post during the three day conference at Mponera, Dowa this week on Climate and Disaster Risk Financing and Insurance (CDRFI) and Participatory Monitoring and Evaluation (PME) that the nation is seating on bomb hence risk disasters management.

Ng’oma expected participants to the conference to enhanced stakeholder’s knowledge on CDRFI for meaningfully and participatory monitoring and evaluation of the concept’s mechanisms in Malawi.

“This is a continuation of previous capacity building initiatives we are embarking to strengthen CDRFI among stakeholders as the way to go.

“Through trainings, conference a numbers of issues have been coming out including insurance towards farmers on their crops which will be embraced with time,” assures Ng’oma.

Insurance Association of Malawi’s member and NICO Holdings Head of Operations Master Mbale said that farmers on weather index cover have grown significantly since 2005.

Mbale observes that insurance on crop production has better bearing amid effects of climate change whereby farmers are compensated.

He however emphasized the need for civil education on policy insurance for easy uptake by farmers.

“With insurance agreement between NICO Insurance and World Food Program (WFP) farmers in Balaka, Zomba, Blantyre and Nsanje, there has been increase of beneficiaries from 500 to 40,000 that we project 70,000 farmers in 2021.

“What’s need is massive civil education that whenever buying the policy takers must understand full that returns be in line with the promise or agreement signed,” says Mbale.

The conference attracted participants including CSOs working in agriculture
and climate change management, government officials, insurance, financing institutions, the academia and the media.

Civil Society Network on Climate Change (CISONECC) with funding from the government of German through CARE German and CARE Malawi under the project Multi-stakeholder partnership on climate and disaster risk financing and preparedness in the context of the InsuResilience Global Partnership’ has developed a Participatory Monitoring and Evaluation (PME) strategy and tools for Climate and Disaster Risk Financing Insurance (CDRFI) to enhance the active engagement of various stakeholders in the PME of various CDRFI initiatives in Malawi.

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