DECISION ON THE ACTIVITY REPORT OF THE AFRICAN RISK CAPACITY
AGENCY OF THE AFRICAN UNION (ARC AGENCY)
Doc. EX.CL/1001(XXX)
The Executive Council,
1. TAKES NOTE of the Activity Report of the African Risk Capacity Agency of the African Union and the recommendations therein;
2. URGES Member States that have not yet signed and ratified the Treaty to do so expeditiously;
3. CALLS ON ARC Agency Member States to support a closer collaboration of ARC Agency with national and regional insurance and reinsurance companies as well as international development institutions and partners to strengthen disaster risk response on the continent;
4. ENCOURAGES and WELCOMES the African Development Bank (AfDB) initiative to develop financial mechanisms to fund disaster insurance premiums for ARC Member States;
5. COMMENDS the efforts by the ARC in the pay outs to Mauritania, Niger, Senegal and Malawi as a result of drought events in these countries and ENCOURAGES the ARC to move along the same vein with regard to other Member States affected;
6. REQUESTS the ARC Agency to broaden its scope of work to include hazards such as cyclones and floods to ensure that more Member States benefit.
7. REQUESTS ARC to report regularly to the Executive Council on its activities.