Malawi receives an insurance payout of $11.2 million for El Nino-linked drought disaster

The Malawian government has received an insurance payout of $11.2 million for a crippling El-Nino-linked drought that led the southern African nation to declare a state of disaster earlier this year. The payout was given to Malawi this month, the African Development Bank said Monday. Malawi had a drought insurance policy through the bank and the African Risk Capacity Group, an agency of the African Union. At least three other countries will also receive payouts after a drought described by aid agencies as one of the region's worst in decades. They likely won't be enough though with Zimbabwe recently asking for $430 million in humanitarian assistance.