The African Risk Capacity (ARC), Africa’s first sovereign catastrophe insurance pool, is set to receive $150 million in support pledged by countries attending the Paris COP21 climate change talks over the last fortnight. The African Risk Capacity (ARC) has received a significant amount of coverage and support over the last fortnight. As we wrote at the time, U.S. President Obama committed financial support to ARC, as well as other risk pooling initiatives. The XCF is designed to access private sources of capital and to diversify the sources of funding available for climate risk financing. The support from these countries will be important in helping ARC to reach its targets over the coming years.