In response to a devastating El Nino-linked drought, the Malawian government has received a significant insurance payout of $11.2 million. This payout, facilitated by the African Development Bank, comes as a crucial lifeline for Malawi, a country already grappling with extreme poverty.
The drought, attributed to the El Nino weather phenomenon, resulted in a state of disaster being declared earlier this year. The insurance policy, held through the African Risk Capacity Group, has enabled Malawi to access funds to provide essential support to its most vulnerable populations.
