Climate Change Impact Assessment and Disaster Risk Financing Strategies in Mali: A Comprehensive Analysis of Drought and Flood Events

Abstract

Climate change impact increasingly led to humanitarian assistance increase and needed. To better address climate change impacts mitigation, a suitable financing instrument is essential to facilitate government, humanitarian, and other stakeholders' finance mobilization. However, few studies have been done on disaster risk profiling to guide decision-makers in their choices. Disaster risk profile analysis has been conducted in Mali to facilitate financial resources mobilization and climate finance instrument choice by identifying Historical drought and flood events. To do so, published papers; and some international institution websites dealing with climate hazard events such as Reliefweb, Hazard/risk, climate information services, Relief Web; CRED- EM-DAT; World Bank Climate Knowledge Portal, World Bank- UNDRR -ThinkHazard, WFP ARC/GeoNode/VAM/DataViz addressing Mali country have been assimilated for evidence accumulation and synthesis and presented in a database. Furthermore, national statistics and national reports on hazards have been also reviewed. Before starting the reading exercise, a reading/analytical framework has been elaborated. In Mali the year 1984 to 2019, 21 flood events occurred in Mali and the most exposed regions to floods are Koulikoro, Bamako and Gao. From 1969 to 2020, 21 drought events were registered in in Mali and the most affected regions are Koulikoro, Mopti, Gao, Kayes. The time return period of drought has been estimated to 3 years while the time return of flood has been estimated to be about 2 years. Drought events are less frequent than flood events, however, drought events affect more population than floods. Also, Also, the yearly response cost for drought events is USD million 277.46 with an average US USD 204.37 cost per affected population. For the flood, even the yearly response cost is USD 11.107 million With USD 261.82 per affected population. Macro-insurance and CAT bonds are more suitable disaster risk financing