DECISION ON THE ACTIVITY REPORT OF THE AFRICAN RISK CAPACITY (ARC)
AGENCY - Doc. EX.CL/1262(XXXVIII)
The Executive Council,
1. TAKES NOTE of efforts of the ARC Group towards its institutional reforms and necessary treaty amendments process that facilitated the establishment of an ARC Group comprising the ARC Agency and its affiliates, the adoption of an ARC Group Strategy, the election of an ARC Group Director General and the expansion of the ARC Agency Governing Board into an ARC Group Board.
2. FURTHER TAKES NOTE of the assumption of duty by Mr. Ibrahima Cheikh Diong on 1 September 2020 as the ARC Group Director General.
3. COGNISANT of the multiple hazards and perils, coupled with the pandemic, that State Parties are exposed to, WELCOMES the development and launching of new disaster risk financing and insurance products including tropical cyclones and floods.
4. CALLS UPON Member States to support ARC in the development of new insurance products for disasters including disease outbreaks and epidemics in line with previous Executive Council decisions.
5. ACKNOWLEDGES the support that partners have offered to ARC since its establishment and REQUESTS State Parties to the ARC Agreement to consider making voluntary contributions to ARC.
6. ENCOURAGES Member States that have not yet signed and ratified the Agreement for the Establishment of the ARC Agency to accelerate their processes of signing and ratifying of the Agreement.