2017: pastoralists in Isiolo county in Kenya are digging for water in dried-up river beds. Agricultural insurance schemes can help pastoralists and farmers be more resilient to climate shocks (Photo: Denis Onyodi/KRCS)
2017: pastoralists in Isiolo county in Kenya are digging for water in dried-up river beds. Agricultural insurance schemes can help pastoralists and farmers be more resilient to climate shocks (Photo: Denis Onyodi/KRCS)

Insuring Against Climate Risk in Kenya – Vincent Mutie Nzau on African Risk Capacity and Climate Risk Financing Initiatives

In a recent blog from the International Institute for Environment and Development (IIED), ARC focal point and senior economist in the National Treasury of Kenya, Vincent Mutie Nzau, explains the importance of disaster risk financing in drought-prone countries like Kenya. With average annual costs for drought damage in Kenya estimated at some US$1.25 billion, access to funding before and after disaster strikes is fundamental for reducing the impact of shocks for the most vulnerable.

“Disaster risk finance takes many shapes in Kenya,” says Nzau – one of those shapes is ARC. Read about the various ways Kenya manages its disaster risk here.