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Papua New Guinea (PNG) is a lower middle income country located in the Asian-Pacific region. Agriculture is the predominant source of livelihood in the country, with the agricultural sector accounting for 67% of the total labor force and 35% of the GDP in 2010. PNG has a very high exposure to earthquake, tsunami and volcanoes as well as being affected by climatic perils including tropical cyclones and the influence of the El Nino Southern Oscillation (ENSO) cycle which brings with it extremes of drought and excess rain and flooding. The Government of PNG identifies that agriculture has and...
Jamaica faces a variety of natural hazards and, on a combined-hazard basis, is among the most vulnerable countries in the world . It lies in the center of the Atlantic hurricane belt, on a complex area of the northern Caribbean Plate margin, and is subject to tropical rainfall and erosion processes. Agriculture in Jamaica is vulnerable to various risks ranging from extreme winds, extreme rain and droughts . However, a large part of the agricultural sector, including large integrated supply chains as well as small farmers, is absorbing all the climate risks, without any risk out-transfer...
The recent path of Tropical Storm Isaac in September 2012 caused the destruction of plantain fields in the South Region. This situation forced the national authorities to provide in-kind assistance (i.e. planting materials, fertilizers, cleaning labor, land preparation) to the most affected farmers. Although some private insurers provide agriculture insurance, the Ministry of Agriculture does not have a pre-defined budget to tackle the negative effects caused by events in the agricultural sector while it faces significant contingent liabilities in this sector. The Ministry of Agriculture of...
Argentina’s agriculture sector is very vulnerable to weather risks. For instance, cotton in the Chaco Province - the most important cotton producing area in Argentina and the third poorest province - is very exposed to drought, excess rainfall and pests. Similarly, cattle-rearing in South West Buenos Aires Province is very exposed to droughts which impact severely on pasture production. In 2011, the Government of Argentina through the Ministry of Agriculture, Livestock and Fisheries (MAGyP), requested the World Bank to conduct a feasibility study for the development of a suitable index-based...
Agricultural insurance was introduced in Nigeria in 1987 through the creation of the Nigerian Agricultural Insurance Scheme (NAIS). In 1993, the private company in charge of underwriting and implementing the NAIS was dissolved and replaced by a public-sector corporation, the Nigerian Agricultural Insurance Corporation, NAIC. Currently, NAIC oversees a portfolio of crop, forestry, livestock, poultry and aqua-culture insurance and also non-life commercial insurance lines. NAIC has received government support both in the form of the initial capitalization of the company and 50 percent premium...
The soil that Abdoulaye Ndiaye holds in his hand is dry and dusty. A little further away in the Kaolack region the groundnut plants are already beginning to spring up in the fields, but in Paskoto village Abdoulaye and his fellow farmers have not seen a drop so far this season. "The most important challenge for us is the weather. It is God who decides. We have no choice, but are just left looking for ways to handle the situation," Abdoulaye says, now using his hand to shield his eyes against the stark sunlight.
For Jeremiah Kithaka, farming maize on his three acre farmland is the primary source of livelihood enabling him to provide for his family of four. However, with changing rainfall patterns, delayed starts to the rainy seasons and longer and more frequent dry periods, Jeremiah has seen vast volatility in his income levels over the past few years.
"Farming in Burkina can be very challenging. Uncertain weather conditions can have severely damaging impact on harvests and the ability of smallholder farmers to continue farming," says Sou Campaore, a 42-year old cotton farmer from Houndé, a farming village just outside Dedougou, a city in the western corridor of Burkina Faso. "Since the income from such an unpredictable harvest is not steady, we don’t get access to capital in order to implement more efficient farming practices and purchase better inputs. A bad season can also have a telling effect on the health and social position of...
Satellite Technology and its continued advancement is critical to the relevance and accuracy of index insurance products as a counter against weather-related risks. The World Bank Group’s Global Index Insurance Facility (GIIF) in partnership with its regional partners has been working with researchers and scientists to refine satellite technology for index insurance product design.
The development of sustainable index-insurance markets requires enabling legal and regulatory environments The adoption of the “CIMA Book VII” on April 5th 2012 was a major milestone allowing and regulating the development ofmicroinsurance and index-insurance for 15 countries in the Inter-African Conference on the Insurance Market or CIMA region In addition to this regional regulatory change, the Global Index-insurance Facility (GIIF) has supported national insurance supervision agencies with this transition. In particular, GIIF has assisted the Senegalese Insurance Supervision Agency with...
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