The World Bank has approved a $400 million financing package for the second phase of the Regional Emergency Preparedness and Access to Inclusive Recovery (REPAIR) Program. This phase will benefit over 12 million people in Angola, Burundi, Malawi, Seychelles, and Zambia by enhancing financial readiness against climate-related and other disasters. The initiative aims to leverage an additional $395 million in private capital through insurance-based solutions, maximizing financial coverage and protection for participating countries.
Eastern and Southern Africa continue to face a rising number of climate-induced disasters, compounded by economic instability and poverty. These challenges expose gaps in financial preparedness, as traditional emergency funding mechanisms are often inadequate, slow, and fragmented. The REPAIR Program is designed to address these shortcomings by building collective resilience, safeguarding lives and livelihoods, and maintaining momentum in development progress.
The program is implemented by African Risk Capacity Limited, a regional risk pool established by the African Union to offer insurance services and financial protection against disaster risks. REPAIR aligns with findings from recent Climate Country and Development Reports (CCDRs), which emphasize the critical need for climate adaptation and resilient recovery strategies to reduce fragility and support economic recovery following shocks.
The first phase of REPAIR, approved in July 2024 with $306 million in funding, has already provided rapid financial response to emergencies. It covered approximately 6 million people in Comoros, Madagascar, and Mozambique. Notably, it facilitated disbursements within seven days of tropical cyclone events in Comoros and Mozambique, demonstrating the effectiveness of timely financial mobilization in disaster situations.
To ensure long-term success, the program underscores the importance of strengthening national delivery systems and integrating financial preparedness into broader risk reduction strategies. The total approved financing for REPAIR now stands at $926 million, with a target to attract $795 million in private investment and expand financial resilience to cover 28 million people across the region.
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