UNDP Launches Insurance, Risk Financing Facility in EthiopiaOmaheke wants improved rural electrification

The United Nations Development Program (UNDP) has launched an Insurance and Risk Financing Facility (IRFF) today in Ethiopia. This Insurance Risk Financing Facility would help Ethiopia build the capacity of communities and businesses to manage shocks with accessible, affordable, and innovative insurance products for farmers, it was indicated. Speaking at the launching program, UNDP Ethiopia Resident Representative, Samuel Doe said the launching of IRFF in Ethiopia is crucial to strengthening the insurance sector and building resilience of the people. Ethiopia, like many countries, is vulnerable to various natural and manmade hazards, the representative pointed out. To this end, Doe believes that Ethiopia's Insurance and Risk Financing Facility is expected to leverage the power of insurance and risk financing mechanisms to enhance resilience and reduce vulnerability. 'Through a combination of innovative insurance products, risk assessment tools, and capacity-building initiatives, the facility aims to empo wer communities, businesses, and government institutions to better anticipate, absorb, and recover from shocks and crises.' The IRFF will also be imperative to support the National Bank of Ethiopia in setting up an insurance supervision directorate that will act as an independent regulatory body, overseeing the insurance industry. On his part, National Bank of Ethiopia Insurance Supervision Director, Belay Tulu emphasized the need to build household business and community resilience to prevent sufferings from disasters. The IRFF will help to further develop activities in the sector, Ministry of Agriculture Investment and Product Marketing Executive Director, Dereje Abebe said Dereje said IRFF will bring about a positive contribution to expand the coverage of the insurance service and build capacity. Source: Ethiopian News Agency GOBABIS: Inhabitants of the Omaheke Region are advocating for the establishment of an electricity distribution body to, amongst others, enhance rural electrification in the region. These recommendations emerged during consultations with the National Planning Commission, whose findings were shared on Monday in Gobabis. The report from the consultations underscored the residents' desire for improved rural electrification, noting that although the central government has made efforts in this regard, more needs to be done. Additionally, while a significant portion of the population has access to clean drinking water and water for farming, there was a call for the maintenance and rehabilitation of old boreholes, alongside the adoption of cost-effective solar water systems. 'There is a need to maintain and rehabilitate old boreholes that have existed for close to 35 years. It was also proposed that Government should supply water to virgin land to mitigate against drought in the region,' read the report. With re gards to budget allocation, residents expressed dissatisfaction with limited resources and called for the fast-tracking of the enactment of the Constituency Development Fund Bill to empower local governments in planning and delivering services. The report also highlighted shortages of fully equipped ambulances in the region, with many health facilities resorting to using bakkies for patient transportation. Lineekela Mboti, the Chief Executive Officer of the African Peer Review Mechanism who spoke on behalf of National Planning Commission Director General Obeth Kandjoze, stressed the importance of citizen engagement in meetings of this nature. 'Some are saying we are doing this because this is an election year, but development has nothing to do with politics, it is a process. Your input will help Central Government to bring solutions to different challenges faced by sectors in our region,' he said. Source: The Namibia Press Agency