MOZAMBIQUE - Climate Insurance Finance and Resilience Project (CLINFIREP) (AFDB-P-MZ-AAG-008)

Countries
  • Mozambique
Where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 8, 2021
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Mozambique
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Climate and Environment
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 42.82 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Oct 4, 2021

Disclosed by Bank Oct 3, 2021


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to bank provided information, the specific objectives of the project are: (i) to improve climate resilient infrastructure (ii) to promote climate-resilient income-generating activities and strengthen food security and nutrition and (iii)to enhance insurance mechanisms against climate-related disasters.

The Climate Insurance, Finance and Resilience Project (CLINFIREP) seeks to promote the development of climate-resilient infrastructure and agricultural diversification using climate-smart agriculture practices to enhance Climate Resilience for sustained economic growth in Mozambique. The project also supports the Government national preparedness plan to reduce social vulnerability to drought through adoption of preventive insurance policies and programs and helping strengthen national capacity to respond to climate disasters. This is an important intervention as the effects and impacts of climate change are already being felt in the form of erratic and inadequate rainfall patterns and declining on-farm productivity. The total project cost is 33.94 million Units of Account (47.78 million dollars) and will be implemented over 5 years (2021-2026) in the 10 drought prone districts of the Maputo Province, Gaza and Inhambane Province. It builds on past investments by the Bank on drought resilience and is well aligned with the Government of Mozambique (GoM's) priorities particularly the Disaster Risk Reduction, Emergency Fund, the National Adaptation Plans and the overall policy framework on climate change adaptation and mitigation. It is anticipated that the outcomes of the Project will increase GoM's institutional capacity to develop climate proof integrated development programs and devise adequate climate insurance products, in the targeted areas in Mozambique. The CLINFIREP will also facilitate the participation of the country in the sovereign insurance pool of the African Risk Capacity (ARC) or other insurance mechanisms, which supports countries that experience climate shocks, including droughts and tropical cyclones.

Investment Description

Contact Information

Name TIQUE Cesar Augusto
Email c.tique@afdb.org 

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.afdb.org/en/disclosure-and-access-to-information/request-for-documents. Under the AfDBÕs Disclosure and Access to Information policy, if you feel the Bank has omitted to publish information or your request for information is unreasonably denied, you can file an appeal at https://www.afdb.org/en/disclosure-and-access-to-information/appeals-process 

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at: https://www.afdb.org/en/independent-review-mechanism/