Insurance against humanitarian disasters to help cut the cost of aid bills will be created under a project to transform the African economy, Theresa May has announced.
The protection scheme will be a quicker, more reliable and cost-effective way of dealing with catastrophes like floods and droughts, the Prime Minister said.
Around £30 million of UK aid funding will be used for the scheme over the next four years.
Mrs May made the announcement as she called on world leaders at the G20 to help improve Africa’s economy.
Boosting prosperity will help curb migration and stop people becoming radicalised by lifting millions out of poverty, she will say.
A London Centre for Global Disaster Protection is being created that will bring together experts to increase disaster planning and create insurance to deal with the fallout when a crisis hits, which will help prevent communities being plunged into further poverty.
Some £60 million is also being spent on helping Africa integrate into global financial markets and around the same amount again has been earmarked for investment in infrastructure in Tanzania.
Mrs May said: “We must not forget that progress in Africa benefits the UK at home.
“Our international aid work is helping to build Britain’s trading partners of the future, creating real alternatives to mass migration, and enhancing our security, while simultaneously ensuring we abide by our moral responsibility to meet the immediate humanitarian needs of some of the poorest people on earth.
"This is the future of aid, delivering value for money for the taxpayer."