The Malawian government has secured a lifeline in the form of an $11.2 million insurance payout to mitigate the catastrophic effects of a drought that ravaged the country earlier this year.
The drought, linked to the El Niño weather phenomenon, was so severe that Malawi was compelled to declare a state of disaster.
The financial relief was provided by the African Development Bank and the African Risk Capacity Group.
According to a statement released on Monday, the funds will be channeled towards providing food assistance to approximately 235,000 households in the most affected regions.
Additionally, over 100,000 households will receive direct relief payments. Malawian President Lazarus Chakwera has hailed the payout as a critical lifeline for the nation’s most vulnerable citizens.
Malawi, already grappling with extreme poverty, has suffered a devastating blow to its food supply due to the drought.
The prolonged dry spell, exacerbated by El Niño, led to widespread crop failures across the country.
As a result, the government declared a state of emergency in March, acknowledging a food crisis in 23 out of its 28 districts.
The impact of the drought extends beyond Malawi, with the entire Southern African region experiencing similar challenges.
The Southern African Development Community (SADC) has reported that around 68 million people, constituting approximately 17% of the region’s population, require urgent assistance.
The U.S. Agency for International Development has classified the drought as the most severe in over a century.
While the insurance payouts to Malawi, Zambia, Zimbabwe, and Mozambique are expected to offer some relief, they are unlikely to fully address the crisis.
Zimbabwe, for instance, is set to receive $31.8 million, a fraction of the $430 million it has requested in humanitarian aid.
