The African Risk Capacity’s (ARC) annual Conference of Parties (CoP) convened this month in Mauritania, with all signatories of ARC invited to attend. ARC was honoured to have the support of Mauritania’s Prime Minister, His Excellency Yahya Ould Hademine, who opened the forum – at which Member States discussed, exchanged ideas and collaborated with one another on topics related to ARC’s work on the continent. “ARC is an innovation that Africa pioneered to manage the consequences of natural disasters that destroy development gains in record time,” His Excellency Hademine, Prime Minister of Mauritania, opens COP6.
The CoP saw numerous concepts explored, such as basis risk’s role in parametric insurance and the development of innovative systems and methods to effectively manage it. The subject was deliberated in open and collaborative sessions, with governments working together to bring about an African-led solution. Discussions were also held with African smallholder farm organizations for the second year in a row to bring the perspective of pastoralists to the discussion.
In addition, briefings were held with the African Development Bank (AfDB) to advise Member States on accessing funding from AfDB for premium payment support. AfDB’s active engagement on financing for countries keen to participate in ARC constitutes both a key priority and milestone.
Mohamed Beavogui, Director-General of ARC Agency, said: “Our annual Conference of Parties is the perfect opportunity for our Member States to come together for common cause – and we are delighted that this year it took place in Mauritania, a country that has consistently shown its commitment to disaster preparedness and to combating climate-related risks. We came away this year with new ideas and perspectives, which we are looking forward to developing further.”
As the highest decision-making organ of ARC, the CoP provides ample opportunity to reflect on ARC’s progress as well as the innovations that are in progress, and what will be needed in the coming years. The discussions had and solutions introduced in Mauritania serve to underline the importance of CoP, and ARC looks forward to similarly constructive conferences in the future.