The ISF has signed a grant agreement to support the implementation of an index-based insurance product to strengthen the resilience of vulnerable populations against floods in three cities in Togo. The country is vulnerable to floods that significantly affect its infrastructure and disrupt its economic activity. The InsuResilience Solutions Fund (ISF) is co-funding the implementation of the project along with AXA Climate, Pionniers en Action pour le Développement Intégré à l’Environnement (PADIE), and Howden.
Togo is divided into five regions and 35 prefectures, each with its unique administrative setup. Among these, the Golfe prefecture, situated in the southern part of the country, comprises seven divisions, centered around the bustling city of Lomé. Meanwhile, the Kloto prefecture’s administrative center is the picturesque city of Kpalimé. The project targets households residing in flood-prone areas in Lomé and Kpalimé. The vulnerability of this demographic is underscored by recurrent severe floods across the country in recent years, resulting in loss of life, infrastructure damage, and economic losses. Given their exposure to floods within the context of socioeconomic poverty, these households encounter heightened risks and difficulties in managing the consequences of such climate-related disasters. Understanding these dynamics is crucial for implementing effective flood resilience strategies in these vulnerable areas.
In order to enhance the resilience of vulnerable populations against the impacts of flooding, the ISF signed a grant agreement with AXA Climate, as the project lead, PADIE, a local non-profit association, and Howden, an international reinsurance broker. The project objective is to enhance the ability of the municipalities of Kpalimé, Golfe 1 and Golfe 7 to respond to large-scale flood events with necessary emergency measures. Through the implementation of an index-based flood insurance solution, the initiative aims to strengthen financial preparedness for disasters and trigger a predefined contingency plan to aid vulnerable populations.
The proposed ISF project seeks to equip Kpalimé, Golfe 1, and Golfe 7 with comprehensive risk mapping, a prioritized list of recommended adaptation measures following cost-benefit analysis, and an index-based insurance mechanism to shield the municipalities from flood risks, ultimately benefiting the affected poor and vulnerable populations.
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