Many African countries face the challenge of more frequent and more severe disasters due to climate change. These impact communities directly but can become more severe as a lack of pre-arranged funds for a quick response can lead people to negative coping mechanisms as help doesn’t arrive fast enough. The Regional Emergency Preparedness and Access to Inclusive Recovery Program (REPAIR) aims to boost financial resilience against climate shocks in Africa through a regional climate risk fund with a variety of instruments for shocks of various magnitude and frequency. This includes parametric insurance, contingent financing, and reserves, among many others.

Over six million people in Comoros, Madagascar, and Mozambique are set to benefit from the program, which will be implemented by the African Risk Capacity Limited (ARC Ltd). The World Bank's Global Shield Financing Facility (GSFF) has endorsed the REPAIR work plan with a US$30 million grant to support the establishment of a new regional climate fund that will eventually encompass 12 countries in Southern Africa.

Watch a video on the REPAIR program here.