The Federal Government has signed a Memorandum of Understanding with the African Risk Capacity to address the impact of extreme weather events in Nigeria, including training support to government personnel.
The signing ceremony, which happened at the annual meetings of the African Development Bank in Busan, South Korea, on Thursday, comes on the heels of the AfDB President, Akinwumi Adesina’s pledge to support the work of the African Risk Capacity in the region.
The signing of the agreement was confirmed in a statement issued by the Senior Communication Specialists, African Risk Capacity, Chinedu Moghalu.
The statement said that the bank and the ARC had partnered since March 2017 to strengthen technical collaboration towards enhancing the risk management infrastructure and policy across Africa and in supporting countries in building resilience against climate shocks.
Speaking on the signing of the MoU, the Minister of Finance, Mrs. Kemi Adeosun, congratulated the ARC for the innovative approach it was taking towards climate risk financing and management on the continent.
She gave an assurance that Nigeria would work with the agency to address the impact of extreme weather events in the country.
The statement added that the journey towards a mutual technical collaboration with Nigeria began in July 2015 when the ARC team undertook a scoping mission, which established the need for the country to give greater consideration to the ARC initiative.
The statement also quoted the Director-General, ARC, Mohamed Beavogui, to have expressed appreciation to the Nigerian government for signing the MoU.